U.S. HISPANIC
Hemisphere Media Group to acquire a majority stake in Snap TV
Maribel Ramos-Weiner| 4 de mayo de 2018
Alan Sokol Hemisphere Media Group
Hemisphere Media Group, Inc. has entered into a definitive agreement to acquire a 75% interest in Snap Global, LLC (Snap TV). As part of the investment, Hemisphere has also entered into a co-production joint venture with MarVista Entertainment, a major independent film and TV production company and minority owner of Snap TV, to co-produce new original productions.
Founded by Ariel Tobi, Snap TV is one of the fastest-growing and most innovative content distribution companies in Latin America, maintaining long-standing relationships with the most important broadcast and cable networks and digital platforms in the region, among them Disney, Televisa, FOX, and Netflix.
Snap TV has also co-produced successful non-scripted series for NatGeo and History Channel in Latin America, and together with MarVista, has produced movies in Latin America.
Prior to the transaction, Snap TV collaborated with Hemisphere on the international distribution of the five-part narco drama El Desconocido, la Historia del Cholo Adrián, produced by Hemisphere’s Cinelatino, which was licensed to Netflix in early 2018.
“Content distribution is an important strategic asset, and we are confident that our resources and combined expertise will accelerate Snap’s growth and position it as the leading independent distributor of Hispanic content. Our partnership with MarVista will facilitate the expansion of our original production strategy, and provide us with world-class content that we can exploit on our networks and platforms and syndicate to existing and emerging platforms,” said Alan Sokol, president, and CEO of Hemisphere.
Ariel Tobi will be joining the Hemisphere team as SVP of Distribution and Programming.
“We look forward to expanding Hemisphere’s international business through strategic global alliances to produce and distribute premium content worldwide, securing Hemisphere’s position as a leading global production, distribution, and media company,” said Tobi.
“Our Joint Venture will deepen our ties to the Latin American region and help us introduce untapped creative visions and talent to the world,” said MarVista CEO Fernando Szew.
Hemisphere, Snap TV, and MarVista will be taking joint meetings at the 2018 LA Screenings. The transaction is expected to close following the completion of certain closing conditions.
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