Univision Communications Inc. entered into an agreement to acquire Pantaya, LLC from Hemisphere Media Group, Inc. (NasdaqGM:HMTV) for approximately $130 million on May 9, 2022. The consideration will be cash plus certain Puerto Rican radio assets including WKAQ AM and KQ105 FM currently owned by TelevisaUnivision. As of May 10, 2022 the consideration in exchange for $115 million in cash plus a promissory note in the amount of $10 million, subject to certain adjustments. Transaction is subject to customary closing conditions, including receipt of regulatory approvals in the United States. The transaction is expected to close in the second half of 2022. As of August 8, 2022 the transaction is expected to close in the third quarter of 2022.

Univision Communications Inc. completed the acquisition of Pantaya, LLC from Hemisphere Media Group, Inc. (NasdaqGM:HMTV) on September 13, 2022.