May 4, 2018 / 1:06 PM / 5 months ago

BRIEF-Hemisphere Media Group Posts Quarterly Loss Vs Year-Ago Profit

May 4 (Reuters) - Hemisphere Media Group Inc:

* HEMISPHERE MEDIA GROUP ANNOUNCES FIRST QUARTER 2018 FINANCIAL RESULTS

* Q1 REVENUE $29 MILLION VERSUS $34.2 MILLION

* Q1 FINANCIAL RESULTS IMPACTED BY CONTINUED DISRUPTION CAUSED BY HURRICANE MARIA

* QTRLY NET LOSS WAS $7.6 MILLION , AS COMPARED TO NET INCOME OF $2.7 MILLION IN COMPARABLE PERIOD IN 2017

* HEMISPHERE MEDIA - AS OF MIDNIGHT MAY 4, CO REACHED IMPASSE IN NEGOTIATIONS WITH DIRECTV IN PUERTO RICO REGARDING ITS RETRANSMISSION CONSENT AGREEMENT

* REACHED A DEFINITIVE AGREEMENT TO ACQUIRE A 75% INTEREST IN SNAP GLOBAL LLC

* FINANCIAL TERMS OF AGREEMENT TO ACQUIRE INTEREST IN SNAP GLOBAL, LLC WERE NOT DISCLOSED

* HEMISPHERE MEDIA - DUE TO IMPASSE IN NEGOTIATIONS WITH DIRECTV IN PUERTO RICO, WAPA CURRENTLY NOT BEING BROADCAST IN PUERTO RICO TO DIRECTV CUSTOMERS

* HEMISPHERE MEDIA - ALSO SIGNED CO-PRODUCTION JV WITH MAR VISTA ENTERTAINMENT, A MINORITY OWNER OF SNAP TV, TO CO-PRODUCE NEW ORIGINAL MOVIES & SERIES Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below