Hemisphere Media Group Announces 10-Year Extension of Concession License for Canal 1 in Colombia at No Additional Cost
Hemisphere Media Group, Inc. - Class A (HMTV)
US:NASDAQ Investor Relations:
hemispheremediagroupinc.gcs-web.com/investor-relations-0
Company Research
Source: PR Newswire
MIAMI, July 29, 2019 /PRNewswire/ -- Hemisphere Media Group, Inc. (NASDAQ: HMTV) ("Hemisphere" or the "Company"), the only publicly traded pure-play U.S. media company targeting the high growth U.S. Hispanic and Latin American markets with leading broadcast and cable television and digital content platforms, today announced that the concession license for Canal 1 in Colombia has been extended by ten years. Canal 1 will not be required to pay any additional concession fees in connection with this extension. The concession is now due to expire on April 30, 2037 and is renewable for an additional 20-year period."We are excited that the Colombian Government has extended the concession license for Canal 1," said Alan Sokol, President and Chief Executive Officer of Hemisphere Media Group. "In only two years, Canal 1 has experienced virtually unprecedented ratings growth and has established itself as a formidable competitor to the two other major broadcast networks in Colombia, both of whic
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