Moving from a public company to private management by Searchlight Group generated intense adjustments for the company in 2023.
*By ttvnews, from Miami, USA
Hemisphere Media Group arrived at Content Americas 2024 with a clearer picture of the company’s direction after undergoing 2023 restructuring and strong adjustments after changing from a public company to a privately managed company, now part of Searchlight Group.
Jim McNamara, vice president of Hemisphere Media Group, during his participation in Content Americas, talked to ttvnews about the changes they faced. “2023 was a little weird for Hemisphere because the company changed dramatically. Going from being a public to a private company, we are now more focused on adjusting the company’s costs to the new reality,” he said.
According to the executive, they have had to make a series of adjustments and decide precisely what they are focused on from now on. “In the previous five years, we had the screen business, which was the center of concentration of the company. We always produced and marketed content, thinking about co-productions; everything was focused on screen. Without underestimating our five cable channels, WAPA Television and the production aspect,” he emphasized.
The company’s restructuring includes Channel 1’s refocusing in Puerto Rico. “It is a wonderful business that also involves a lot of production and productive activity in the country. We have achieved cost management in our profitable cable channels,” said the executive.
McNamara pointed out that they are focused on producing content, mainly in Mexico. “We have a production partner called Canela Media, with whom we do most of the productions. We are very active in different themes. We have an extensive catalog to which we always add titles,” he said.
The second edition of Content Americas has been quite good, much more than he expected. “But it has looked better. There is more activity, and you feel that business is being done,” he said.
