On September 13, 2022, Gato Investments LP, and Hemisphere Media Group, Inc. announced the completion of Gato's acquisition of Hemisphere. The transaction was previously announced on May 9, 2022 and approved by Hemisphere's stockholders at the Special Meeting of Stockholders held on September 8, 2022. Subject to the terms of the definitive merger agreement, the Company stockholders will receive $7.00 per share of Class A Common Stock or Class B Common Stock and the Company's common stock has ceased trading and will be delisted from the Nasdaq stock market.