Hemisphere Media’s $15 Million Settlement Over Buyout Approved

A Delaware court on Friday approved Hemisphere Media Group Inc.'s offer to pay $15 million to end a class action over its take-private buyout by Searchlight Capital Partners LP and a related side deal with TelevisaUnivision Inc.

The settlement resolves shareholder claims in Delaware Chancery Court challenging two 2022 transactions: a private equity acquisition that valued the company at $285 million, and the sale of a Spanish-language streaming service for $125 million. The investors alleged Hemisphere’s board allowed Searchlight—which held a 70% stake in Hemisphere—to set the buyout’s terms, then manipulated a shareholder vote. Hemisphere and TelevisaUnivision weren’t named as ...