Searchlight Capital-backed Gato Investments, an asset manager, completed the acquisition of Hemisphere Media, a Spanish-language media company, for $144m. "We are pleased to have reached this agreement with Gato, which we believe is the right path forward for our organization and delivers immediate value and certainty to stockholders. We have worked tirelessly to create an extraordinary portfolio of assets, and this transaction is a direct reflection of the quality of our networks, growing audience, and premium news and entertainment outlets. As a private company, and with the support of Gato, we will have the ability to make long-term investments in content and innovation that will best serve Hemisphere's audiences," Alan Sokol, Hemisphere CEO.