Hemisphere Media Group has been granted a 10-Year extension of concession license for Canal 1 Colombia at no additional cost

Hemisphere Media Group, Inc. 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. 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 which have a 20-year head start on Canal 1,” said Alan Sokol, president and Chief Executive Officer of Hemisphere Media Group.

Hemisphere, in partnership with leading producers of news and entertainment content in Colombia, acquired the concession license for Canal 1 in 2016, and it is one of only three national broadcast television licenses in Colombia.