Hemisphere Media Buyout Challenge Case Settles for $15 Million

Hemisphere Media Group Inc. will pay $15 million to end litigation over its take-private buyout by Searchlight Capital Partners LP and a related side deal with TelevisaUnivision Inc.

The settlement disclosed Thursday would resolve shareholder claims targeting the 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. Because the case is a class action, the agreement requires court approval.

Searchlight and Hemisphere’s ex-board “deny all allegations of wrongdoing, fault, liability, or damage,” according to the settlement stipulation filed in Delaware’s Chancery Court. They’re settling “solely ...