HMTV - Edenbrook Capital says Hemisphere Media should be taken private for at least $16-$23/share

Edenbrook Capital LLC, a shareholder in Spanish language broadcaster Hemisphere Media Group (NASDAQ:HMTV), on Wednesday told the company that the equity value of its going private deal should be at least $16-$23 per share. Edenbrook said it owned about 14.94% of the publicly traded A shares and 7.65% of the total company, including the privately held, super-voting B shares. It had earlier written to the company on May 16 saying that the equity value shouldn't be anything less than $12 per share. HMTV on May 9 had announced that it had agreed to be taken private by a unit of a portfolio investment of Searchlight Capital Partners for $7 per share. Its shares had jumped nearly 80% on the news. Edenbrook said that after reading the additional financial disclosures in the company's pre-marketing lender presentation, "we now realize that our (earlier estimates of $12/share) were too conservative, and that the

For further details see:

Edenbrook Capital says Hemisphere Media should be taken private for at least $16-$23/share