On May 16, 2022, Edenbrook Capital, LLC sent a letter to Peter Kern, the Chairman of the Board, expressing Edenbrook Capital's strong belief that Hemisphere Media Group, Inc.'s recent entry into an agreement and plan of merger to have the Company taken private at $7.00 per share in cash significantly undervalues the Company. Edenbrook Capital also stated that the letter details and provides support for its belief that a deal to take the Company private at anything less than $12.00 per share would raise serious questions about the process, motivations and conflicts of interest surrounding the proposed transaction.