Hemisphere shares boost after acquiring Pantaya totally

Days after the purchase of the remaining 75% of the Pantaya digital platform from Lionsgate, the value of Hemisphere Media Group shares risen significantly in average.

The amount of the transaction was also disclosed: US$124 million. The OTT has more than 900,000 subscribers, and executives hope to reach 3 million by 2025.

Just before acquiring Pantaya, Hemisphere shares were trading at US$11.65, and after the news they reached US$13. Perhaps US$1.35 does not seem like a big increase, but in average it represents 11.15%, which is a lot in terms of such a short period of time.