Hemisphere Media to acquire 75% interest in Snap TV
Hemisphere announced that it reached a definitive agreement to acquire a 75% interest in Snap Global, LLC, a leading independent distributor of content to broadcast, pay TV and OTT platforms in Latin America. As part of the investment, the company has also signed a co-production joint venture with Mar Vista Entertainment, an established independent film and TV production company and minority owner of Snap TV, to co-produce new original movies and series. Financial terms of the transaction were not disclosed. Snap TV distributes third party content to major free and pay TV broadcasters and OTT platforms serving Latin America and other Spanish speaking markets. Snap TV has also co-produced successful series for NatGeo and History Channel in Latin America, and together with Mar Vista, has produced movies in Latin America. Snap TV will be based in Hemisphere's Miami headquarters.