Hemisphere Media Group to acquire majority stake in Latin America’s Snap TV

hemisphere-media

Hemisphere Media Group announced that it has entered into a definitive agreement to acquire a 75% interest in Snap Global (Snap TV), a leading independent distributor of content in Latin America to broadcast, pay TV and OTT platforms.
As part of the investment, Hemisphere has also entered into a co-production joint venture with MarVista Entertainment, minority owner of Snap TV, to co-produce new original productions.
Snap TV is a company founded by Ariel Tobi that maintains long-standing relationships with the most important broadcast and cable networks and digital platforms in the region, among them Disney, Televisa, Fox, and Netflix. The company 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. In addition, in 2017 Snap launched Purga, the niche SVOD dedicated to horror movies.
In a press release, the media group said Tobi will be joining the Hemisphere team as Senior Vice President of Distribution and Programming. According to Alan J. Sokol, President and CEO of Hemisphere, “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”.
Prior to the transaction, Snap TV collaborated with Hemisphere on the international distribution of narco drama “El Desconocido, la Historia del Cholo Adrian,” produced by Hemisphere’s Spanish-language cable movie network Cinelatino. The transaction is expected to close following the completion of certain conditions.
Meanwhile, the Managing Director of Purga, Sergio Mandelbaum, will participate -on May 16 and 17- of NexTV Series Argentina, the conference organized by Dataxis, which will be held at the Intercontinental Hotel in Buenos Aires.