Hemisphere Media (HMTV) 10-Q 13 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 11, 2013	Nov. 11, 2013
		Class A Common Stock	Class B Common Stock
Entity Registrant Name	'HEMISPHERE MEDIA GROUP, INC.	'	'
Entity Central Index Key	'0001567345	'	'
Document Type	'10-Q	'	'
Document Period End Date	30-Sep-13	'	'
Amendment Flag	'false	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Filer Category	'Non-accelerated Filer	'	'
Entity Common Stock, Shares Outstanding	'	12,120,053	33,000,000
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'Q3	'	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
Current Assets	'	'
Cash	$172,940,824	$10,084,434
Accounts receivable, net of allowance for doubtful accounts of $225,906 and $179,568, respectively	14,020,884	10,510,978
Due from related parties, net of allowance for doubtful accounts of $379,735 and $0, respectively	835,150	'
Programming rights	5,446,287	4,403,029
Deferred taxes	6,149,075	3,049,047
Prepaid expenses and other current assets	1,792,049	1,362,002
Total current assets	201,184,269	29,409,490
Programming Rights	7,093,535	2,664,100
Property and Equipment, net	25,073,008	26,861,359
Deferred Financing Costs	3,376,887	2,043,703
Deferred Taxes	'	863,252
Broadcast License	41,355,700	41,355,700
Goodwill	116,481,768	10,982,586
Other Intangibles, net	36,246,667	1,677,500
Other Assets	654,483	'
Total Assets	431,466,317	115,857,690
Current Liabilities	'	'
Accounts payable	4,084,901	912,007
Accrued expenses	10,361,429	12,042,165
Programming rights payable	3,857,264	3,207,719
Current portion of long-term debt	1,750,000	4,608,000
Total current liabilities	20,053,594	20,769,891
Programming Rights Payable	1,667,121	926,984
Long-Term Debt, net of current portion	171,104,167	52,404,000
Deferred Income Taxes	147,016	'
Other Liabilities	2,224,001	2,098,886
Total Liabilities	195,195,899	76,199,761
Commitments and Contingencies	'	'
Stockholders' Equity	'	'
Preferred Stock, $0.0001 par value; 50,000,000 shares authorized; 0 shares issued and outstanding as of September 30, 2013 and December 31, 2012	'	'
Additional Paid In Capital	240,784,247	34,608,586
Fair Value of Contingent Consideration	-2,284,475	'
Treasury Stock, at cost; 65,549 shares	-938,016	'
Accumulated (Deficit) Earnings	-546,208	5,837,331
Accumulated Comprehensive Loss	-749,554	-787,988
Total Stockholders' Equity	236,270,418	39,657,929
Total Liabilities and Stockholders' Equity	431,466,317	115,857,690
Class A Common Stock	'	'
Stockholders' Equity	'	'
Common Stock	1,124	'
Class B Common Stock	'	'
Stockholders' Equity	'	'
Common Stock	$3,300	'

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Accounts receivable, allowance for doubtful accounts	$225,906	$179,568
Due from related parties, allowance for doubtful accounts	$379,735	$0
Preferred Stock, par value (in dollars per share)	$0.00	$0.00
Preferred Stock, shares authorized	50,000,000	50,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Treasury Stock, shares	65,549	'
Class A Common Stock	'	'
Common Stock, par value (in dollars per share)	$0.00	$0.00
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, shares issued	11,241,000	0
Common Stock, shares outstanding	11,241,000	0
Class B Common Stock	'	'
Common Stock, par value (in dollars per share)	$0.00	$0.00
Common Stock, shares authorized	33,000,000	33,000,000
Common Stock, shares issued	33,000,000	0
Common Stock, shares outstanding	33,000,000	0

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Condensed Consolidated Statements of Operations	'	'	'	'
Net Revenues	$23,704,566	$17,543,854	$60,128,741	$48,276,913
Operating Expenses:	'	'	'	'
Cost of revenues	10,290,353	9,234,086	23,817,742	23,258,035
Selling, general and administrative	6,596,524	3,309,493	21,670,157	9,915,483
Depreciation and amortization	2,585,615	919,788	6,177,390	2,742,177
Other expenses	122,055	429,941	4,794,443	515,554
Loss (gain) on disposition of assets	'	'	67,577	-50,000
Total operating expenses	19,594,547	13,893,308	56,527,309	36,381,249
Operating income	4,110,019	3,650,546	3,601,432	11,895,664
Other Expenses:	'	'	'	'
Interest expense, net	-2,338,838	-853,372	-4,209,810	-2,726,716
Loss on early extinguishment of debt	-1,648,546	'	-1,648,546	'
Other (expense) income, net	-37,500	-12,501	-62,500	-37,500
Total other expenses	-4,024,884	-865,873	-5,920,856	-2,764,216
Income (loss) before income taxes	85,135	2,784,673	-2,319,424	9,131,448
Income tax expense	-4,070,252	-1,828,984	-4,064,115	-4,651,528
Net (loss) income	($3,985,117)	$955,689	($6,383,539)	$4,479,920
(Loss) earnings per share:	'	'	'	'
Basic (in dollars per share)	($0.09)	$955,689	($0.23)	$4,479,920
Diluted (in dollars per share)	($0.09)	$955,689	($0.23)	$4,479,920
Weighted average shares outstanding:	'	'	'	'
Basic (in shares)	42,171,763	1	27,426,256	1
Diluted (in shares)	42,171,763	1	27,426,256	1

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive (Loss) Income (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Condensed Consolidated Statements of Comprehensive (Loss) Income	'	'	'	'
Net (loss) income:	($3,985,117)	$955,689	($6,383,539)	$4,479,920
Other comprehensive income:	'	'	'	'
Net unrealized gain on interest rate swap agreement	'	'	38,434	'
Comprehensive (loss) income	($3,985,117)	$955,689	($6,345,105)	$4,479,920

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Changes in Stockholders' Equity (USD $)		Total	Common Stock	Common Stock	Additional Paid In Capital	Treasury Stock	Accumulated Earnings (Deficit)	Accumulated Comprehensive (Loss) Income
			Class A Common Stock	Class B Common Stock		Class A Common Stock
Balance at the beginning of the period at Dec. 31, 2012		$39,657,929	'	'	$34,608,586	'	$5,837,331	($787,988)
Changes in Member's Capital		'	'	'	'	'	'	'
Consummation of the Transaction (April 4, 2013)	[1]	198,996,168	1,099	3,300	198,991,769	'	'	'
Net loss		-6,383,539	'	'	'	'	-6,383,539	'
Comprehensive income		38,434	'	'	'	'	'	38,434
Issuance of Restricted Stock		2,102,500	25	'	2,102,475	'	'	'
Excess of tax benefits related to the issuance of restricted stock		182,000	'	'	182,000	'	'	'
Stock-based compensation		2,614,942	'	'	2,614,942	'	'	'
Repurchases of Class A Common Stock		-938,016	'	'	'	-938,016	'	'
Balance at the end of the period at Sep. 30, 2013		$236,270,418	$1,124	$3,300	$238,499,772	($938,016)	($546,208)	($749,554)
[1]	Includes reclassification of $2.8 million to additional paid-in capital.

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Changes in Stockholder's Equity (Parenthetical) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013
Condensed Consolidated Statements of Changes in Stockholders' Equity	'
Reclassification of consummation of the transaction to additional paid-in capital	$2.80

Condensed_Consolidated_Stateme4

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Reconciliation of Net (Loss) Income to Net Cash Provided By Operating Activities:	'	'
Net (loss) income	($6,383,539)	$4,479,920
Adjustments to reconcile net (loss) income to net cash provided by operating activities:	'	'
Depreciation and amortization	6,177,390	2,742,177
Program amortization	6,910,038	5,559,890
Amortization of deferred financing costs	477,354	650,006
Amortization of original issue discount	41,667	'
Stock-based compensation	4,717,442	'
Provision for bad debts	84,692	90,000
Loss (gain) on disposition of assets	67,577	-50,000
Loss on early extinguishment of debt	1,648,546	'
Deferred tax (expense) benefit	-332,566	1,764,969
(Increase) decrease in:	'	'
Accounts receivable	484,184	1,062,218
Due from related parties	-335,271	'
Programming rights	-7,923,181	-7,560,226
Prepaid expenses and other current assets	-1,268,626	-2,814,151
Increase (decrease) in:	'	'
Accounts payable	3,080,857	30,873
Accrued expenses	-6,957,704	-171,804
Programming rights payable	892,255	1,324,063
Income tax payable	710,829	-157,190
Other liabilities	125,115	-210,241
Net cash provided by operating activities	2,217,059	6,740,504
Cash Flows From Investing Activities	'	'
Transaction proceeds, net	82,437,466	'
Proceeds from sale of assets	'	50,000
Capital expenditures	-1,104,368	-3,401,245
Net cash provided by (used in) investing activities	81,333,098	-3,351,245
Cash Flows From Financing Activities	'	'
Proceeds from term loan	173,250,000	'
Financing fees	-3,459,085	'
Repayments of long-term debt	-89,546,666	-5,688,000
Purchase of treasury stock	-938,016	'
Net cash provided by (used in) financing activities	79,306,233	-5,688,000
Net increase (decrease) in cash	162,856,390	-2,298,741
Cash:	'	'
Beginning	10,084,434	10,182,539
Ending	172,940,824	7,883,798
Cash payments for:	'	'
Interest	3,482,979	2,265,754
Income taxes	$3,590,646	$4,628,775

Nature_of_Business

Nature of Business	9 Months Ended
	Sep. 30, 2013
Nature of Business	'
Nature of Business	'
	Note 1. Nature of Business
	Nature of business:   The accompanying consolidated financial statements include the accounts of Hemisphere Media Group, Inc. (“Hemisphere” or the “Company”), the parent holding company of Cine Latino, Inc. (“Cinelatino”), WAPA Holdings, LLC (formerly known as InterMedia Español Holdings, LLC) (“WAPA”), and Azteca Acquisition Corporation (“Azteca”).  Hemisphere was formed on January 16, 2013 for purposes of effecting the Transaction, which was consummated on April 4, 2013.  In these notes, the terms “Company,” “we,” “us” or “our” mean Hemisphere and all subsidiaries included in our consolidated financial statements.
	·                  Cine Latino, Inc. (“Cinelatino”)—this company was organized under the laws of the State of Delaware and is engaged in in the business of producing, offering and distributing a cable television network  designated “Cine Latino,” the content for which is Spanish-language motion pictures or other entertainment programming. The network is distributed throughout the United States, Mexico, Central America, South America, the Caribbean and Canada.
	·                  WAPA Holdings, LLC (“WAPA”)—this company was organized under the laws of the State of Delaware and is a holding company that owns 100% interest of Español and WAPA America (see below). WAPA has no operations or assets other than the investments in Español and WAPA America.
	·                  InterMedia Español, Inc. (“Español”)—this company was organized under the laws of the State of Delaware and is a holding company that owns 100% interest of WAPA PR (see below). Español has no operations or assets other than the investment in WAPA PR.
	·                  Televicentro of Puerto Rico, LLC (“Televicentro” or “WAPA PR”)—this Company was organized under the laws of the State of Delaware and is engaged in the broadcast television business, as well as in the production of news and entertainment programming in Puerto Rico.
	·                  WAPA America, Inc. (“WAPA America”)—this company was organized on September 2, 2004, under the laws of the state of Delaware, and is a cable television network distributed in the U.S. and programmed with Spanish language news and entertainment programs (produced and supplied, in its majority, by WAPA PR).
	·                  Azteca Acquisition Corporation (“Azteca”)—Dormant subsidiary; Azteca was initially formed as a blank check company in the British Virgin Islands on April 15, 2011 and reincorporated in the State of Delaware on June 8, 2011 for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock, reorganization or similar business combination with one or more businesses. Azteca, a special purpose acquisition vehicle, delivered the proceeds of a trust account raised in its 2011 initial public offering to Hemisphere in the merger. Following the consummation of the merger, Azteca has had no operations and does not currently engage in any business activities generating revenues.
	Cinelatino has certain agreements with MVS Multivision Digital S. de R.L. de C.V. and its affiliates (collectively “MVS”), a Mexican media and television conglomerate, which have directors and stockholders in common with the Company, as discussed in Note 3.
	Basis of Presentation:   The accompanying unaudited condensed consolidated financial statements for Hemisphere and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (the “U.S.”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X.   Accordingly, certain information and note disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to those rules and regulations, although we believe that the disclosures made are adequate to make the information not misleading. In our opinion, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement have been included. Our financial condition as of, and operating results for the three month and nine month periods ended, September 30, 2013 are not necessarily indicative of the financial condition or results that may be expected for any future interim period or for the year ending December 31, 2013.  As further described in Note 2, WAPA is the accounting acquirer and predecessor, whose historical results are the historical results of Hemisphere.
	Net (Loss) Earnings per Common Share:   Basic (loss) earnings per share (“EPS”) are computed by dividing income (loss) attributable to common stockholders by the number of weighted-average outstanding shares of common stock.  Diluted EPS reflects the effect of the assumed exercise of stock options and vesting of restricted shares only in the periods in which such effect would have been dilutive.
	The following table sets forth the computation of the common shares outstanding used in determining basic and diluted EPS:
		Three Months Ended September 30,					Nine Months Ended September 30,
		2013			2012		2013			2012
	Numerator for (loss) earnings per common share calculation:
	Net (loss) income:	$	(3,985,117	)	$	955,689	$	(6,383,539	)	$	4,479,920
	Denominator for earnings per common share calculation:
	Weighted-average common shares, basic	42,171,763			1		27,426,256			1
	Effect of dilutive securities:
	Stock options and restricted stock	—			—		—			—
	Weighted-average common shares, diluted	42,171,763			1		27,426,256			1
	The Company applies the treasury stock method to measure the dilutive effect of its outstanding warrants, stock options and restricted stock awards and includes the respective common share equivalents in the denominator of our diluted income (loss) per common share calculation. Potentially dilutive securities representing 0.6 million a shares of common stock for the three and nine months ended September 30, 2013, were excluded from the computation of diluted (loss) income per common share for this period because their effect would have been anti-dilutive. The net (loss) income per share amounts are the same for our Class A and Class B common stock because the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation.
	A summary of the Company’s significant accounting policies follows:
	Stock based compensation:  The Company has given equity incentives to certain employees. The Company accounts for equity incentives in accordance with Accounting Standards Codification (“ASC”) 718 “Stock Compensation”. The Company measures compensation cost for equity settled awards at fair value on the date of grant and recognizes compensation cost in the consolidated statements of operations over the requisite service or performance period the award is expected to vest. Compensation cost is determined by using option pricing models.
	Recent accounting pronouncements:  In July 2012, the Financial Accounting Standards Board (“FASB”) issued guidance that is intended to reduce the cost and complexity of the annual impairment test for indefinite-lived intangible assets other than goodwill by providing entities an option to perform a qualitative assessment to determine whether a quantitative impairment test is necessary. The revised standard is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, but early adoption is permitted. The Company adopted this guidance effective January 1, 2013, and the adoption did not have a material effect on the Company’s consolidated financial position, results of operation and cash flows.
	In February 2013, the FASB issued guidance related to reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.  The amendments do not change the current requirements for reporting net income or other comprehensive income in financial statements. These amendments require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional details about those amounts. For public entities, the amendments are effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2012.  The Company adopted this guidance effective January 1, 2013, and the adoption did not have a material effect on the Company’s consolidated financial position, results of operation and cash flows.
	Use of estimates:  In preparing these financial statements, management had to make estimates and assumptions that affected the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the balance sheets date, and the reported revenues and expenses for the years then ended. Such estimates are based on historical experience and other assumptions that are considered appropriate in the circumstances. However, actual results could differ from those estimates.

Business_Combination

Business Combination	9 Months Ended
	Sep. 30, 2013
Business Combination	'
Business Combination	'
	Note 2. Business Combination
	On April 4, 2013, the merger by and among Cinelatino, WAPA and Azteca providing for the combination of Cinelatino, WAPA and Azteca as indirect, wholly-owned subsidiaries of Hemisphere (the “Transaction”) was consummated. The primary purpose of the Transaction was to create a Spanish-language media company targeting the Hispanic broadcast and cable television network business.
	The Transaction was accounted for by applying the acquisition method, which requires the determination of the accounting acquirer, the acquisition date, the fair value of the purchase consideration to be transferred, the fair value of assets and liabilities of the acquiree and the measurement of goodwill. ASC Topic 805-10, “Business Combinations—Overall” (“ASC 805-10”) provides that in identifying the acquiring entity in a business combination effected primarily through an exchange of equity interests, the acquirer is usually the entity that issues equity interests but all pertinent facts and circumstances must be considered in determining the acquirer. Other pertinent facts and circumstances to consider include the relative voting rights of the shareholders of the constituent companies in the combined entity, the composition of the board of directors and senior management of the combined company, the relative size of each company and the terms of the exchange of equity interests in the Transaction, including payment of any premium. Although Hemisphere issued the equity interests in the Transaction, since it is a new entity formed solely to issue these equity interests to effect the Transaction it would not be considered the acquirer and one of the combining entities that existed before the transaction must be identified as the acquirer. Based on the following, WAPA is the accounting acquirer and predecessor, whose historical results are the results of Hemisphere:
	i.                         WAPA shareholders obtained approximately 46.4% of the post-Transaction common shares of stock and 59.9% of the voting rights in the combined entities;
	ii.                      WAPA, through its parent company, InterMedia Partners VII, L.P. (“InterMedia Partners”), has the ability to elect or appoint or to remove a majority of the members of the governing body of the combined entity, as they represent five of the nine directors on the combined entity board of directors, including the Chief Executive Officer; and
	iii.                   WAPA’s historical revenues represent approximately 69.0% of the total revenues of the combined entities.
	As WAPA is the accounting acquirer (and legal acquiree), the Transaction is considered to be a reverse acquisition. Since WAPA issued no consideration in the Transaction, unless the fair value of accounting acquirees’ equity interests are more reliably measurable, the fair value of the consideration transferred by WAPA would be based on the number of shares WAPA would have had to issue to give owners of the other entities in the transaction the same percentage ownership in the combined entities that results from the Transaction. In this situation, since Azteca’s shares were publicly traded and they are one of the combining entities in this Transaction, the fair value of those shares are considered to be more reliably measurable than the fair value of WAPA’s shares and therefore were used to determine the fair value of the consideration transferred for the acquisition of Cinelatino, which is the other operating entity involved in this Transaction.
	Total consideration transferred by WAPA (accounting acquirer) to Cinelatino (accounting acquiree) was $129,423,943 based on: (i) cash consideration of $3.8 million (funded from cash on hand), plus (ii) 12,567,538 shares with a fair value of $128.8 million based on the Company’s opening share price of $10.25 per share on the date following the consummation of the Transaction for each share of the Company’s common stock to be received by Cinelatino stockholders in the Transaction, (iii) less contingently returnable consideration with a fair value of $3.2 million, which represents the difference between the fair value of 1,142,504 shares of Hemisphere Class B common stock that are subject to forfeiture in the event the closing market price of Hemisphere Class A common stock does not equal or exceed $12.50 and $15.00 for any twenty trading days within at least one 30-day trading period and the estimated fair value of these shares using a Monte Carlo simulation model (571,252 shares with fair value of $1.2 million have achieved the $12.50 trading price and are no longer subject to forfeiture). Significant assumptions utilized in the Monte Carlo simulation model include:
	·                  Stock Price: $10.25
	·                  Volatility: 32.5%
	·                  Risk-Free Rate: 0.69%
	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed in the acquisition of Cinelatino:
	Cash	$	12,865,242
	Accounts receivable	4,052,590
	Programming rights	4,459,550
	Prepaid expenses and other current assets	939,945
	Property and equipment, net	21,415
	Other assets	2,054,956
	Intangible asset - affiliate agreements	37,900,000
	Current liabilities	(6,271,770		)
	Long-term debt	(32,097,167		)
	Fair value of identifiable net assets acquired	23,924,761
	Goodwill	105,499,182
	Total	$	129,423,943
	The estimated fair values of Cinelatino’s affiliate agreements of $37.9 million, was determined using a discounted cash flow method based on expected renewal rates utilizing a 10% discount rate.  These intangible assets will be amortized on a straight-line basis over 6 years.
	The accounts receivable acquired have a fair value of $4.1 million and all contractual receivables are expected to be collected.
	During the three months ended September 30, 2013, the Company finalized the valuation of its affiliate agreements which resulted in a reclassification of $14.2 million from goodwill to intangible assets and $4.9 million related to the corresponding deferred tax liability, which is included in other assets above. As a result of this reclassification, the Company reported an additional $0.7 million of amortization expense during the quarter ended June 30, 2013.
	Goodwill of $105.5 million is the excess of the net consideration transferred over the fair value of the identifiable net assets acquired, and primarily represents the benefits the Company expects to realize from the acquisition.  The goodwill associated with the transaction is not deductible for tax purposes.
	The number of shares of stock of the Company issued and outstanding immediately following the consummation of the Transaction is summarized as follows:
		Number of Shares
	Azteca public shares outstanding prior to the Transaction	10,000,000
	Azteca founder shares (1)	2,500,000
	Total Azteca shares outstanding prior to the Transaction	12,500,000
	Less: shareholders of Azteca public shares redeemed	(1,258,900	)
	Less: Azteca founder shares cancelled	(250,000	)
	Shares issued to WAPA member (2)	20,432,462
	Shares issued to Cinelatino stockholders (3)	12,567,538
	Total shares outstanding at closing, April 4, 2013	43,991,100
	(1) Includes 985,294 shares of Hemisphere Class A common stock which are subject to forfeiture in the event the market price of Hemisphere Class A common stock does not meet certain levels.
	(2) Includes 1,857,496 shares of Hemisphere Class B common stock, which were issued in the Transaction by Hemisphere that are subject to forfeiture in the event the market price of Hemisphere Class A common stock does not meet certain levels.
	(3) Includes 1,142,504 shares of Hemisphere Class B common stock, which were issued in the Transaction by Hemisphere that are subject to forfeiture in the event the market price of Hemisphere Class A common stock does not meet certain levels.
	The cash flows related to the Transaction are summarized as follows:
		Amount
	Cash in trust at Azteca	$	100,520,532
	Cash on hand at Cinelatino	12,865,242
	Less: redemption of Azteca public shares	(12,651,945		)
	Less: cash consideration paid to Azteca warrantholders	(7,333,334		)
	Less: cash consideration paid to WAPA member and Cinelatino stockholders	(5,000,000		)(1)
	Less: payment of Azteca fees and expenses	(5,963,030		)
	Net cash received by the Company	$	82,437,465
	(1) Includes $3.8 million paid by WAPA to Cinelatino.
	Pro Forma Information
	The following table sets forth the unaudited pro forma results of operations assuming that the Transaction occurred on January 1, 2012:
		Pro Forma
		Three Months Ended September 30,					Nine Months Ended September 30,
		2013			2012		2013		2012
	Net Revenues	$	23,704,566		$	23,550,498	$	66,232,569	$	66,022,358
	Operating Expenses:
	Cost of revenues	10,106,353			10,446,262		24,687,086		27,260,184
	Selling, general and administrative	6,448,503			6,404,096		22,305,259		21,733,698
	Depreciation and amortization	2,585,615			3,233,155		7,025,558		6,751,401
	Loss (gain) on disposition of assets	—			—		67,577		(50,000		)
	Total operating expenses	19,140,471			20,083,513		54,085,480		55,695,283
Operating income	$	4,564,095		$	3,466,985	$	12,147,089	$	10,327,075
The unaudited pro forma results of operations for all periods set forth above includes the operating results of Cinelatino, stock-based compensation, corporate overhead including public company costs, and amortization of intangibles created as a result of the Transaction, and excludes all transaction related fees and expenses and non-recurring expenses (primarily the $3.8 million charge as a result of the termination of a certain agreement with MVS in connection with the Transaction).

Related_Party_Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2013
Related Party Transactions	'
Related Party Transactions	'
	Note 3. Related Party Transactions
	The Company has various agreements with MVS as follows:
	·                  An agreement through August 1, 2017 pursuant to which MVS provides Cinelatino with satellite and support services including origination, uplinking and satellite delivery of two feeds of Cinelatino’s channel (for U.S. and Latin America), master control and monitoring, dubbing, subtitling and close captioning, and other support services (the “Satellite and Support Services Agreement”). The annual fee for the services was reduced during 2012, and provides for an annual fee going forward of $2,136,000. Total expenses incurred were $534,003 and $1,068,006 for the three and nine months ended September 30, 2013, respectively, and are included in cost of revenues.
	·                  A ten-year master license agreement through July 2017, which grants MVS the non-exclusive right (except with respect to pre-existing distribution arrangements between MVS and third party distributors that are effective at the time of the consummation of the Transaction) to duplicate, distribute and exhibit Cinelatino’s service via cable, satellite or by any other means in Latin America and in Mexico to the extent that Mexico distribution is not owned by MVS. Pursuant to the agreement, Cinelatino receives revenue net of MVS’s distribution fees, which is presently equal to 13.5% of all license fees collected from distributors in Latin America and Mexico. Total revenues recognized were $974,491 and $1,877,905    for the three and nine months ended September 30, 2013, respectively.
	·                  A six-year affiliation agreement through August 1, 2017 for the distribution and exhibition of Cinelatino’s programming service through Dish Mexico (dba Commercializadora de Frecuencias Satelitales, S de R.L. de C.V.), an MVS affiliate that transmits television programming services throughout Mexico. Total revenues recognized were $423,015 and $869,217 for the three and nine months ended September 30, 2013, respectively.
	·                  A distribution agreement that gave MVS the exclusive right to negotiate the terms of the distribution, sub-distribution and exhibition of Cinelatino throughout the United States of America.  The agreement stipulated a distribution fee of 13.5% of the revenue received from all multiple system operators.  Upon consummation of the Transaction on April 4, 2013, the agreement was terminated effective January 1, 2013.  In consideration for such termination, the Company made a cash payment to MVS in an amount equal to $3,800,000, which is reflected in selling, general and administrative expenses.
	Amounts due from MVS pursuant to the agreements noted above, net of an allowance for doubtful accounts, amounted to $1,542,656 and $0 as of September 30, 2013 and December 31, 2012, respectively, and are remitted monthly.  Amounts due to MVS pursuant to the agreements noted above amounted to $667,453 and $0 as of September 30, 2013 and December 31, 2012, respectively, and are remitted monthly.
	The Company entered into a three-year consulting agreement effective April 9, 2013 with James M. McNamara, a member of the Company’s Board of Directors, to provide the development, production and maintenance of programming, affiliate relations, identification and negotiation of carriage opportunities, and the development, identification and negotiation of new business initiatives including sponsorship, new channels, direct-to-consumer programs and other interactive initiatives. Prior to that, Cinelatino entered into a consulting agreement with an entity owned by James M. McNamara. Total expenses incurred under these agreements are included in selling, general and administrative expenses and amounted to $28,592 and $55,258 for the three and nine months ended September 30, 2013, respectively.  No amount was due to this related party as of September 30, 2013.
	Cinelatino entered into programming agreements with an entity owned by James M. McNamara for the distribution of three specific movie titles. As of September 30, 2013 and December 31, 2012, $67,649 and $0, respectively, is included in other assets as prepaid programming related to these agreements. As of September 30, 2013 and December 31, 2012, approximately $135,682 and $0, respectively, is included in programming rights related to these agreements.
	In March 2011, WAPA entered into an agreement with InterMedia Partners VII, L.P., to provide management services, including strategic planning, assistance with licensing of programming rights, and participation in distribution negotiations with cable and satellite operators (the “Management Services Fee”). The Management Services Fee is payable so long as no default shall have occurred or would result therefrom. Pursuant to the loan agreement, the payment of the Management Services Fee is expressly subordinate and junior in right of payment and exercise of remedies to the payment in full of the WAPA term loan. Total expenses for management services amounted to $0 and $156,250 for the three months ended September, 2013 and 2012, respectively, and $0 and $468,750 for the nine months ended September 30, 2013 and 2012, respectively.  Upon consummation of the Transaction on April 4, 2013, this agreement was terminated retroactively to January 1, 2013.
	The Company entered into a services agreement effective April 4, 2013 with InterMedia Advisors, LLC (“IMA”), which has officers, directors and stockholders in common with the Company, to provide  services including, without  limitation, office space, operational support and employees acting in a consulting capacity. Prior to that, the Company reimbursed IMA for payments made on the Company’s behalf for similar services. Amounts due to this related party amounted to $40,053 and $57,956 as of September 30, 2013 and December 31, 2012, respectively. Such expenses are included in selling, general and administrative expenses and amounted to $33,647 and $47,339 for the three months ended September 30, 2013 and 2012, respectively, and $73,700 and $116,744 for the nine months ended September 30, 2013 and 2012, respectively.

Goodwill_and_Intangible_Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2013
Goodwill and Intangible Assets	'
Goodwill and Intangible Assets	'
	Note 4. Goodwill and Intangible Assets
	Goodwill and intangible assets consist of the following as September 30, 2013 and December 31, 2012:
		September 30,			December 31,
		2013			2012
	Broadcast licenses	$	41,355,700		$	41,355,700
	Goodwill	116,481,768			10,982,586
	Other intangibles	36,246,667			1,677,500
		$	194,084,135		$	54,015,786
	A summary of changes in the Company’s goodwill and other indefinite lived intangible assets, on a net basis, for the nine months ended September 30, 2013 and the year ended December 31, 2012 is as follows:
		Net Balance at								Net Balance at
		December 31, 2012			Additions			Impairment		September 30, 2013
	Broadcast licenses	$	41,355,700		$	—		$	—	$	41,355,700
	Goodwill	10,982,586			105,499,182			—		116,481,768
	Other Intangibles	700,000			—			—		700,000
	Total indefinite lived intangibles	$	53,038,286		$	105,499,182		$	—	$	158,537,468
		Net Balance at								Net Balance at
		December 31, 2011			Additions			Impairment		December 31, 2012
	Broadcast licenses	$	41,355,700		$	—		$	—	$	41,355,700
	Goodwill	10,982,586			—			—		10,982,586
	Other Intangibles	700,000			—			—		700,000
	Total indefinite lived intangibles	$	53,038,286		$	—		$	—	$	53,038,286
	As of September 30, 2013 and December 31, 2012, the Company has the following net amounts related to other amortizable intangible assets:
		Amortization		September 30,			December 31,
		Term (Years)		2013			2012
	Affiliate relationships	10-Jun		$	35,546,667		$	977,500
	The aggregate amortization expense of the Company’s amortizable intangible assets were $1,636,667 and $57,500 for the three months ended September 30, 2013 and 2012, respectively, and $3,330,833 and $172,500 for the nine months ended September 30, 2013 and 2012,  respectively. The weighted average remaining amortization period is 2.9 years as of September 30, 2013.
	Future estimated amortization expense is as follows:
	Year Ending
	December 31,
	Remainder of 2013	$	1,636,667
	2014	6,546,667
	2015	6,546,667
	2016	6,546,667
	2017	6,374,167
	2018	6,316,667
	2019	1,579,165
	2020	—
		$	35,546,667

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2013
Income Taxes	'
Income Taxes	'
	Note 5. Income Taxes
	For the three and nine months ended September 30, 2013 and 2012, the Company’s income tax expense and effective tax rates were as follows:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Income tax expense	$	4,070,252		$	1,828,984		$	4,064,115		$	4,651,528
	Actual income tax rate	(221.8		)%	49.5		%	(221.8		)%	49.5		%
	During the three months ended September 30, 2013, the Company utilized the actual activity in determining the income tax expense, rather than the annual effective rate method, as allowed under ASC 740-270-30-36, “Income Taxes — Interim Reporting.” For the three and nine months ended September 30, 2013, the Company’s statutory Federal income tax rate of 34.0% became the discrete-period income tax rate of (221.8)% as a result of an increase in the tax rate in Puerto Rico from 30% to 39% that will not generate offsetting U.S. income tax credits, the loss of a deferred tax asset as a result of the increase in the tax rate in Puerto Rico, permanent differences as a result of costs related the Transaction, and statutory taxes.  For the three and nine months ended September 30, 2012, the Company’s statutory Federal income tax rate of 34.0% increased to the effective income tax rate of 49.5% as a result of increases in taxes in Puerto Rico that will not generate offsetting U.S. tax credits and permanent differences for meals and entertainment.

LongTerm_Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2013
Long-Term Debt	'
Long-Term Debt	'
	Note 6. Long-Term Debt
	Long-term debt as of September 30, 2013 and December 31, 2012 consists of the following:
		September 30,			December 31,
		2013			2012
	Senior Notes due March 2016	$	—		$	57,012,000
	Senior Notes due July 2020	172,854,167			—
	Less: current portion	(1,750,000		)	(4,608,000		)
		$	171,104,167		$	52,404,000
	Senior Notes due July 2020: On July 30, 2013 certain of the Company’s subsidiaries entered into a credit agreement providing for a $175.0 million senior secured term loan B facility (the “Term Loan Facility”) which matures on July 30, 2020. The Term Loan Facility also provides an uncommitted accordion option (the “Incremental Facility”) allowing for additional borrowings under the Term Loan Facility up to an aggregate principal amount equal to (i) $20 million plus (ii) an additional amount up to 4.0x 1st lien net leverage. Pricing on the Term Loan Facility was set at LIBOR plus 500 basis points (with a LIBOR floor of 1.25%) and 1.0% of original issue discount (“OID”). The OID of $1.75 million, net of accumulated amortization of $41,667 as of September 30, 2013, is recorded as a reduction to the principal amount of the Term Loan Facility outstanding and will be amortized as a component of interest expense over the term of the Term Loan Facility. The proceeds of the loan were used to repay in full all outstanding debt obligations at the Company’s subsidiaries (the Senior Notes due March 2016 and June 2017), to pay fees and expenses associated with the financing, and for general corporate purposes including potential future acquisitions. The Company recorded $3.4 million of debt issue costs associated with the Term Loan Facility, net of accumulated amortization of $82,359 at September 30, 2013. In connection with the repayment of the Senior Notes due March 2016 and June 2017, the Company wrote off unamortized debt issuance costs of $1.6 million, which is recorded as a loss on the early extinguishment of debt in the accompanying condensed consolidated statements of operations.
	The Term Loan Facility principal payments shall be payable on quarterly due dates commencing September 30, 2013 and a final installment on July 30, 2020.  Amounts outstanding under the Term Loan Facility due as of September 30, 2013 and December 31, 2012 were $172,854,167 and $0, respectively.
	In addition, pursuant to the terms of the Term Loan Facility, within 90 days after the end of each fiscal year (commencing with the fiscal year ending December 31, 2014), the Borrowers are required to make a prepayment of the loan principal in an amount equal to 50% of the excess cash flow of the most recently completed fiscal year. Excess cash flow is generally defined as net income plus depreciation and amortization expense, less mandatory prepayments of the term loan, interest charges, income taxes and capital expenditures, and adjusted for the change in working capital. The percentage of the excess cash flow used to determine the amount of the prepayment of the loan declines from 50% to 25% and again to 0% at lower leverage ratios.
	Senior Notes due March 2016:  On March 31, 2011, InterMedia Español, Inc. and Televicentro of Puerto Rico, LLC, collectively referred to in this note as the “Borrowers”, entered into a loan agreement that included a $66,000,000 term loan and a $10,000,000 revolving credit line with a maturity of March 31, 2016. The loan was guaranteed by WAPA Holdings, LLC, the direct holding company of InterMedia Español, Inc. and Televicentro of Puerto Rico, LLC, and its wholly-owned subsidiaries other than the Borrowers and secured by a first-priority perfected lien on all capital stock of and equity interests in each of the Borrowers and all other property and assets (tangible and intangible) of the Borrowers, whenever acquired and wherever located, subject to certain exceptions.
	The loan was repaid in full in connection with the closing of the Term Loan Facility as discussed above.  Amounts outstanding under the term loan due as of September 30, 2013 and December 31, 2012 were $0 and $57,012,000, respectively.
	There was an annual commitment fee of 0.75%, paid quarterly, on the revolving credit line for the unfunded amounts calculated daily as the amount by which the aggregate revolving credit line limit exceeds the aggregate outstanding unpaid principal amount. The commitment fees were approximately $3,082 and $18,904 for the three months ended September 30, 2013 and 2012, respectively, and $40,274and $56,506 for the nine months ended September 30, 2013 and 2012, respectively. The revolving credit line was terminated on July 30, 2013 in connection with the closing of the Term Loan Facility. As of September 30, 2013 and December 31, 2012, there were no outstanding balances due under the revolving credit commitment.
	On April 13, 2011, WAPA entered into a two-year interest rate swap agreement with an initial notional amount of $33,000,000 to receive interest at a variable rate equal to three (3) months LIBOR and to pay interest at a fixed rate of 1.143%. The interest rate swap agreement expired on April 15, 2013. As of September 30, 2013 and December 31, 2012, this interest rate swap agreement had a fair value of $0 and $122,032, respectively, and is recognized in other accrued expenses on the consolidated balance sheets. The Company recognized additional financing income of $0 and $29,087 for the three months ended September 30, 2013 and 2012, respectively, and $122,032 and $62,146 for the nine months ended September 30, 2013 and 2012, respectively, related to the change in the fair value of the interest rate swap agreement, which is included in interest expense, net on the consolidated statements of operations.
	Senior Notes due June 2017:  During 2011, Cinelatino amended its credit facility with a financial institution and maximum borrowings were increased to $40,000,000. The loan was collateralized by the Cinelatino’s assets and common stock, which the stockholder has pledged, and was guaranteed by the Company’s subsidiary. The loan was repaid in full in connection with the closing of the Term Loan Facility on July 30, 2013 as discussed above.  Amounts outstanding under the term loan due as of September 30, 2013 and December 31, 2012 were $0 and $0, respectively.
	The carrying value of the long-term debt approximates fair value at September 30, 2013 and December 31, 2012. The estimated fair value of our variable-rate debt is derived from quoted market prices by independent dealers (Level 2 in the fair value hierarchy under ASC 820, Fair Value Measurements and Disclosures).
	Following are maturities of long-term debt, as of September 30, 2013:
	Year Ending
	December 31,
	Remainder of 2013	$	437,500
	2014	1,750,000
	2015	1,750,000
	2016	1,750,000
	2017 and thereafter	168,875,000
		$	174,562,500

Stockholders_Equity

Stockholder's Equity	9 Months Ended
	Sep. 30, 2013
Stockholder's Equity	'
Stockholder's Equity	'
	Note 7. Stockholder’s Equity
	Capitalization
	On April 4, 2013, the merger by and among Cinelatino, WAPA and Azteca providing for the combination of Cinelatino, WAPA and Azteca as indirect, wholly-owned subsidiaries of Hemisphere (the “Transaction”) was consummated.
	In connection with the Transaction (i) the holders of Cinelatino common stock and the holder of membership interests in WAPA (the “Cinelatino/WAPA Investors”) surrendered their respective interests and received an aggregate of 33,000,000 shares of Hemisphere Class B common stock, par value $0.0001 (“Class B common stock”), a cash payment equal to an aggregate of $5.0 million, and purchased 2,333,334 warrants from Azteca founders to purchase Hemisphere Class A common stock, par value $0.0001 (such warrants, “Warrants” and such stock, “Class A common stock”); (ii) each share of Azteca common stock was automatically converted into one share of Class A common stock; (iii) each Amended Azteca Warrant, as defined below, was automatically converted into an equal number of Warrants; and (iv) immediately prior to the consummation of the Transaction,  Azteca Acquisition Holdings, LLC and certain existing shareholders of Azteca contributed 250,000 shares of Azteca common stock to Azteca for cancellation and agreed to subject an additional 250,000 shares of Class A common stock to certain forfeiture provisions (in addition to 735,294 shares of Class A common stock already subject to forfeiture under pre-existing agreements) if the market price of shares of Hemisphere Class A common stock does not reach certain levels.  Following the consummation of the Transaction, there were 10,991,100 shares of Class A stock outstanding and 33,000,000 shares of Hemisphere Class B stock outstanding.
	From time to time the Company has issued Class A common stock to certain members of management and board of directors as equity compensation, subject to time and performance vesting conditions, as discussed below.
	Voting
	Class B common stock votes on a 10 to 1 basis with the Class A common stock, which means that each share of Class B common stock will have 10 votes and each share of Class A common stock will have 1 vote.
	Equity Incentive Plans
	An aggregate of 4,000,000 shares of our Class A common stock were authorized for issuance under the terms of the Hemisphere Media Group, Inc. 2013 Equity Incentive Plan (the “2013 Equity Incentive Plan”).  During the nine months ended September 30, 2013, 1,195,002 shares of restricted Class A common stock and 1,635,000 options to purchase shares of Class A common stock were awarded under the Plan.  As of September 30, 2013, 1,235,547 shares remained available for issuance of stock options or other stock-based awards under our Equity Incentive Plan (including shares of restricted Class A common stock surrendered to the Company in payment of taxes required to be withheld in respect of vested shares of restricted Class A common stock and available for issuance).  The expiration date of the 2013 Equity Incentive Plan, on and after which date no awards may be granted, is April 4, 2023.  The Company’s board of directors (“Board”) administers the 2013 Equity Incentive Plan, and has the sole and plenary authority to, among other things:  (i) designate participants; (ii) determine the type, size, and terms and conditions of awards to be granted; (iii) determine the method by which an award may be settled, exercised, canceled, forfeited, or suspended.
	The Company’s time-based restricted stock awards and option awards generally vest in three equal annual installments beginning on the first anniversary of the grant date, subject to the grantee’s continued employment or service with the Company. The Company’s event-based restricted stock awards and option awards generally vest either upon the Company’s Class A common stock attaining a $12.50 or $15.00 closing price per share, as quoted on the NASDAQ Global Market, on at least 10 trading days, subject to the grantee’s continued employment or service with the Company.  Other event-based restricted stock awards granted to certain members of our Board vest on the day preceding the Company’s 2014 annual shareholder meeting.
	Stock-Based Compensation
	Stock-based compensation expense related to stock options and restricted stock amounted was $1,610,911 and $4,717,442 for the three and nine months ended September 30, 2013, respectively.  As of September 30, 2013, there was $5.8 million and $7.8 million of total unrecognized compensation cost related to non-vested stock options and restricted stock, respectively, which is expected to be recognized over weighted-average periods of 1.9 years and 1.3 years, respectively.
	Stock Options
	The fair value of stock options granted is estimated at the date of grant using the Black-Scholes pricing model for time-based options and the Monte Carlo simulation model for event-based options.  The expected term of options granted is derived using the simplified method under ASC 718-10-S99-1/SEC Topic 14.D for “plain vanilla” options and the Monte Carlo simulation for event-based options.  Expected volatility is based on the historical volatility of the Company’s competitors given its lack of trading history. The risk-free interest rate is based on the U.S. Treasury yield for a period consistent with the expected term of the option in effect at the time of the grant. The Company has estimated forfeitures of 1.5% and has assumed no dividend yield, as dividends have never been paid to stock or option holders and will not be paid for the foreseeable future.
		Nine
		Months
		Ended September 30,
	Black-Scholes Option Valuation Assumptions	2013		2012
	Risk-free interest rates	0.93% - 2.03%		—
	Dividend yield	—		—
	Volatility	35.8% - 36.7%		—
	Weighted-average expected term (years)	6		—
		Nine Months
		Ended September 30,
	Monte Carlo Option Valuation Assumptions	2013		2012
	Risk-free interest rate	1.78	%	—
	Dividend yield	—		—
	Volatility	36.7	%	—
	Weighted-average expected term (years)	5.4 – 5.8		—
	The weighted average grant date fair value of options granted for the nine months ended September 30, 2013 was $4.23 per option. The time-vesting option grants vest over a period of three years. The following table summarizes stock option activity for the nine months ended September 30, 2013:
						Weighted-
				Weighted-		average	Aggregate
		Number		average		contractual	intrinsic
		of shares		exercise price		term	value
	Outstanding at January 1, 2013:	—		$	—	—	$	—
	Granted	1,635,000		11.24		10	1,937,500
	Exercised	—		—		—	—
	Forfeited	—		—		—	—
	Expired	—		—		—	—
	Outstanding at September 30, 2013:	1,635,000		$	11.24	10	$	1,937,500
	Vested at September 30, 2013	275,000		$	10.2	10	$	426,250
	Exercisable at September 30, 2013	275,000		$	10.2	10	$	426,250
	Upon the exercise of stock options, the Company will issue new shares of its Class A common stock.  As of September 30, 2013, 300,000 options issued are unvested, event-based options.
	Restricted Stock
	Certain employees and directors have been awarded restricted stock under the 2013 Equity Incentive Plan. The time-based restricted stock grants vest primarily over a period of three years.  The fair value and expected term of event-based restricted stock grants is estimated at the grant date using the Monte Carlo simulation.
		Nine Months
		Ended September 30,
	Monte Carlo Restricted Stock Valuation Assumptions	2013		2012
	Risk-free interest rate	1.78	%	—
	Dividend yield	—		—
	Volatility	36.7	%	—
	Weighted-average expected term (years)	0.6 - 1.3		—
	The following table summarizes restricted share activity for the nine months ended September 30, 2013:
				Weighted-
				average
		Number		grant date
		of shares		fair value
	Outstanding at January 1, 2013:	—		$	—
	Granted	1,195,002		9.81
	Vested	(250,000	)	8.41
	Forfeited	—		—
	Outstanding at September 30, 2013:	945,002		$	10.18
	As of September 30, 2013, 150,000 shares of restricted stock issued are unvested, event-based shares.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2013
Contingencies	'
Contingencies	'
	Note 8. Contingencies
	The Company is involved in various legal actions, generally related to its operations. Management believes, based on advice from legal counsel, that the outcome of such legal actions will not adversely affect the financial condition of the Company.

Commitments

Commitments	9 Months Ended
	Sep. 30, 2013
Commitments	'
Commitments	'
	Note 9. Commitments
	The Company has entered into certain rental property contracts with third parties, which are accounted for as operating leases. Rental expense was $79,913 and $56,716 for the three months ended September 30, 2013 and 2012, respectively, and $199,915 and $140,744 for the nine months ended September 30, 2013 and 2012, respectively.
	The Company has certain commitments including various operating leases.
	Future minimum payments for these commitments and other commitments, primarily programming, are as follows:
	Year Ending	Operating		Other
	December 31,	Leases		Commitments		Total
	Remainder of 2013	$	132,000	$	2,644,256	$	2,776,256
	2014	92,850		5,157,122		5,249,972
	2015	64,941		1,668,067		1,733,008
	2016	7,274		679,433		686,707
	Total	$	297,065	$	10,148,878	$	10,445,943

Multiemployer_Pension

Multiemployer Pension	9 Months Ended
	Sep. 30, 2013
Multiemployer Pension	'
Multiemployer Pension	'
	Note 10. Multiemployer Pension
	WAPA PR, a 100% owned subsidiary of the Company,  makes contributions to the Newspaper Guild International Pension Plan (the “Plan” or “TNGIPP”), a multiemployer pension plan with a plan year end of December 31 that provides defined benefits to certain  employees covered by two collective bargaining agreements (the  “CBAs”), which expire on July 23, 2015 and June 27, 2016, respectively.  WAPA PR’s contribution rates to the Plan are generally determined in accordance with the provisions of the CBAs.
	The risks in participating in such a plan are different from the risks of single-employer plans, in the following respects:
	·                  Assets contributed to a multiemployer plan by one employer may be used to provide benefits to employees of other participating employer.
	·                  If a participating employer ceases to contribute to a multiemployer plan, the unfunded obligation of the plan may be borne by the remaining participating employer.
	Under current law regarding multiemployer defined benefit plans, a plan’s termination, WAPA PR’s voluntary withdrawal, or the mass withdrawal of all contributing employers from any underfunded multiemployer defined benefit plan would require us to make payments to the plan for our proportionate share of the multiemployer plan’s unfunded vested liabilities. WAPA PR has received Annual Funding Notices, Report of Summary Plan Information, Critical Status Notices (“Notices”) and a Rehabilitation Plan, as defined by the Pension Protection Act of 2006 (“PPA”), from the Plan.  The Notices indicate that the Plan actuary has certified that the Plan is in critical status, the “Red Zone”, as defined by the PPA, and that a plan of rehabilitation (“Rehabilitation Plan”) was adopted by the Trustees of the Plan (“Trustees”) on May 1, 2010.  On May 29, 2010, the Trustees sent WAPA PR a Notice of Reduction and Adjustment of Benefits Due to Critical Status explaining all changes adopted under the Rehabilitation Plan, including the reduction or elimination of benefits referred to as “adjustable benefits.”  In connection with the adoption of the Rehabilitation Plan, most of the Plan participating unions and contributing employers (including the Newspaper Guild International and WAPA PR), agreed to one of the “schedules” of changes as set forth under the Rehabilitation Plan.  The Company elected the “preferred schedule” and executed a Memorandum of Agreement, effective May 27, 2010 (the “MOA”) and agreed to the following contribution rate increases: 3.0% beginning on January 1, 2013; an additional 3.0% beginning on January 1, 2014; and an additional 3% beginning on January 1, 2015.
	The surcharges and effect of the Rehabilitation Plan as described above are not anticipated to have a material effect on the Company’s results of operations.  However, in the event other contributing employers are unable to, or fail to, meet their ongoing funding obligations, the financial impact on the WAPA PR to contribute to any plan underfunding may be material.   In addition, if a United States multiemployer defined benefit plan fails to satisfy certain minimum funding requirements, the Internal Revenue Service may impose a nondeductible excise tax of 5% on the amount of the accumulated funding deficiency for those employers contributing to the fund.
	WAPA PR could also be obligated to pay additional contributions (known as complete or partial withdrawal liabilities) due to the unfunded vested benefits of the Plan, in the event that WAPA PR withdrew from the plan during the five-year period beginning on the effective date of the MOA.  The withdrawal liability (which could be material) in the event of the foregoing, would equal the total lump sum of contributions that WAPA PR would have been obligated to pay the Plan through the date of withdrawal, under the “default schedule” of the Rehabilitation Plan (5% surcharge in the initial year and 10% for each successive year thereafter the plan is in critical status), less any contributions actually paid by the WAPA PR to the Plan under the “preferred schedule”.  WAPA PR’s contributions to the Plan for the year ended December 31, 2012 were less than 5% of total contributions made to the Plan.
	Further information about the Plan is presented in the table below:
					WAPA PR’s Contributions			Expiration
								Date of
	Pension		Pension Protection Act	Funding Improvement	Three months	Nine months	Surcharge	Collective
			Zone Status	Plan/Rehabilitation Plan	ended September 30,	ended September		Bargaining
	Fund	EIN	2012	Status	2013	30, 2013	Imposed	Agreements
	TNGIPP (Plan No. 001)	52-1082662	Red	Implemented	$32,761	$95,604	Yes	July 23, 2015 June 27, 2016

Nature_of_Business_Policies

Nature of Business (Policies)	9 Months Ended
	Sep. 30, 2013
Nature of Business	'
Basis of Presentation:	'
	Basis of Presentation:   The accompanying unaudited condensed consolidated financial statements for Hemisphere and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (the “U.S.”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X.   Accordingly, certain information and note disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to those rules and regulations, although we believe that the disclosures made are adequate to make the information not misleading. In our opinion, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement have been included. Our financial condition as of, and operating results for the three month and nine month periods ended, September 30, 2013 are not necessarily indicative of the financial condition or results that may be expected for any future interim period or for the year ending December 31, 2013.  As further described in Note 2, WAPA is the accounting acquirer and predecessor, whose historical results are the historical results of Hemisphere.
Net (Loss) Earnings per Common Share:	'
	Net (Loss) Earnings per Common Share:   Basic (loss) earnings per share (“EPS”) are computed by dividing income (loss) attributable to common stockholders by the number of weighted-average outstanding shares of common stock.  Diluted EPS reflects the effect of the assumed exercise of stock options and vesting of restricted shares only in the periods in which such effect would have been dilutive.
	The following table sets forth the computation of the common shares outstanding used in determining basic and diluted EPS:
		Three Months Ended September 30,					Nine Months Ended September 30,
		2013			2012		2013			2012
	Numerator for (loss) earnings per common share calculation:
	Net (loss) income:	$	(3,985,117	)	$	955,689	$	(6,383,539	)	$	4,479,920
	Denominator for earnings per common share calculation:
	Weighted-average common shares, basic	42,171,763			1		27,426,256			1
	Effect of dilutive securities:
	Stock options and restricted stock	—			—		—			—
	Weighted-average common shares, diluted	42,171,763			1		27,426,256			1
	The Company applies the treasury stock method to measure the dilutive effect of its outstanding warrants, stock options and restricted stock awards and includes the respective common share equivalents in the denominator of our diluted income (loss) per common share calculation. Potentially dilutive securities representing 0.6 million a shares of common stock for the three and nine months ended September 30, 2013, were excluded from the computation of diluted (loss) income per common share for this period because their effect would have been anti-dilutive. The net (loss) income per share amounts are the same for our Class A and Class B common stock because the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation.
Stock based compensation:	'
	Stock based compensation:  The Company has given equity incentives to certain employees. The Company accounts for equity incentives in accordance with Accounting Standards Codification (“ASC”) 718 “Stock Compensation”. The Company measures compensation cost for equity settled awards at fair value on the date of grant and recognizes compensation cost in the consolidated statements of operations over the requisite service or performance period the award is expected to vest. Compensation cost is determined by using option pricing models.
Recent accounting pronouncements:	'
	Recent accounting pronouncements:  In July 2012, the Financial Accounting Standards Board (“FASB”) issued guidance that is intended to reduce the cost and complexity of the annual impairment test for indefinite-lived intangible assets other than goodwill by providing entities an option to perform a qualitative assessment to determine whether a quantitative impairment test is necessary. The revised standard is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, but early adoption is permitted. The Company adopted this guidance effective January 1, 2013, and the adoption did not have a material effect on the Company’s consolidated financial position, results of operation and cash flows.
	In February 2013, the FASB issued guidance related to reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.  The amendments do not change the current requirements for reporting net income or other comprehensive income in financial statements. These amendments require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional details about those amounts. For public entities, the amendments are effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2012.  The Company adopted this guidance effective January 1, 2013, and the adoption did not have a material effect on the Company’s consolidated financial position, results of operation and cash flows.
Use of estimates:	'
	Use of estimates:  In preparing these financial statements, management had to make estimates and assumptions that affected the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the balance sheets date, and the reported revenues and expenses for the years then ended. Such estimates are based on historical experience and other assumptions that are considered appropriate in the circumstances. However, actual results could differ from those estimates.

Nature_of_Business_Tables

Nature of Business (Tables)	9 Months Ended
	Sep. 30, 2013
Nature of Business	'
Schedule of the computation of the common shares outstanding used in determining basic and diluted EPS	'
		Three Months Ended September 30,					Nine Months Ended September 30,
		2013			2012		2013			2012
	Numerator for (loss) earnings per common share calculation:
	Net (loss) income:	$	(3,985,117	)	$	955,689	$	(6,383,539	)	$	4,479,920
	Denominator for earnings per common share calculation:
	Weighted-average common shares, basic	42,171,763			1		27,426,256			1
	Effect of dilutive securities:
	Stock options and restricted stock	—			—		—			—
	Weighted-average common shares, diluted	42,171,763			1		27,426,256			1

Business_Combination_Tables

Business Combination (Tables)	9 Months Ended
	Sep. 30, 2013
Business Combination	'
Schedule of estimated fair values of the assets acquired and liabilities assumed	'
	Cash	$	12,865,242
	Accounts receivable	4,052,590
	Programming rights	4,459,550
	Prepaid expenses and other current assets	939,945
	Property and equipment, net	21,415
	Other assets	2,054,956
	Intangible asset - affiliate agreements	37,900,000
	Current liabilities	(6,271,770		)
	Long-term debt	(32,097,167		)
	Fair value of identifiable net assets acquired	23,924,761
	Goodwill	105,499,182
	Total	$	129,423,943
Schedule of number of shares of stock of the Company issued and outstanding	'
		Number of Shares
	Azteca public shares outstanding prior to the Transaction	10,000,000
	Azteca founder shares (1)	2,500,000
	Total Azteca shares outstanding prior to the Transaction	12,500,000
	Less: shareholders of Azteca public shares redeemed	(1,258,900	)
	Less: Azteca founder shares cancelled	(250,000	)
	Shares issued to WAPA member (2)	20,432,462
	Shares issued to Cinelatino stockholders (3)	12,567,538
	Total shares outstanding at closing, April 4, 2013	43,991,100
	(1) Includes 985,294 shares of Hemisphere Class A common stock which are subject to forfeiture in the event the market price of Hemisphere Class A common stock does not meet certain levels.
	(2) Includes 1,857,496 shares of Hemisphere Class B common stock, which were issued in the Transaction by Hemisphere that are subject to forfeiture in the event the market price of Hemisphere Class A common stock does not meet certain levels.
	(3) Includes 1,142,504 shares of Hemisphere Class B common stock, which were issued in the Transaction by Hemisphere that are subject to forfeiture in the event the market price of Hemisphere Class A common stock does not meet certain levels.
Summary of cash flows related to the Transaction	'
		Amount
	Cash in trust at Azteca	$	100,520,532
	Cash on hand at Cinelatino	12,865,242
	Less: redemption of Azteca public shares	(12,651,945		)
	Less: cash consideration paid to Azteca warrantholders	(7,333,334		)
	Less: cash consideration paid to WAPA member and Cinelatino stockholders	(5,000,000		)(1)
	Less: payment of Azteca fees and expenses	(5,963,030		)
	Net cash received by the Company	$	82,437,465
	(1) Includes $3.8 million paid by WAPA to Cinelatino.
Schedule of unaudited pro forma results of operations	'
	The following table sets forth the unaudited pro forma results of operations assuming that the Transaction occurred on January 1, 2012:
		Pro Forma
		Three Months Ended September 30,					Nine Months Ended September 30,
		2013			2012		2013		2012
	Net Revenues	$	23,704,566		$	23,550,498	$	66,232,569	$	66,022,358
	Operating Expenses:
	Cost of revenues	10,106,353			10,446,262		24,687,086		27,260,184
	Selling, general and administrative	6,448,503			6,404,096		22,305,259		21,733,698
	Depreciation and amortization	2,585,615			3,233,155		7,025,558		6,751,401
	Loss (gain) on disposition of assets	—			—		67,577		(50,000		)
	Total operating expenses	19,140,471			20,083,513		54,085,480		55,695,283
	Operating income	$	4,564,095		$	3,466,985	$	12,147,089	$	10,327,075

Goodwill_and_Intangible_Assets1

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2013
Goodwill and Intangible Assets	'
Schedule of goodwill and intangible assets	'
		September 30,			December 31,
		2013			2012
	Broadcast licenses	$	41,355,700		$	41,355,700
	Goodwill	116,481,768			10,982,586
	Other intangibles	36,246,667			1,677,500
		$	194,084,135		$	54,015,786
Summary of changes in the Company's goodwill and other indefinite lived intangible assets, on a net basis	'
		Net Balance at								Net Balance at
		December 31, 2012			Additions			Impairment		September 30, 2013
	Broadcast licenses	$	41,355,700		$	—		$	—	$	41,355,700
	Goodwill	10,982,586			105,499,182			—		116,481,768
	Other Intangibles	700,000			—			—		700,000
	Total indefinite lived intangibles	$	53,038,286		$	105,499,182		$	—	$	158,537,468
		Net Balance at								Net Balance at
		December 31, 2011			Additions			Impairment		December 31, 2012
	Broadcast licenses	$	41,355,700		$	—		$	—	$	41,355,700
	Goodwill	10,982,586			—			—		10,982,586
	Other Intangibles	700,000			—			—		700,000
	Total indefinite lived intangibles	$	53,038,286		$	—		$	—	$	53,038,286
Schedule of net amounts related to other amortizable intangible assets	'
		Amortization		September 30,			December 31,
		Term (Years)		2013			2012
	Affiliate relationships	10-Jun		$	35,546,667		$	977,500
Schedule of future estimated amortization expense	'
	Year Ending
	December 31,
	Remainder of 2013	$	1,636,667
	2014	6,546,667
	2015	6,546,667
	2016	6,546,667
	2017	6,374,167
	2018	6,316,667
	2019	1,579,165
	2020	—
		$	35,546,667

Income_Taxes_Tables

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2013
Income Taxes	'
Schedule of income tax expense and effective tax rates	'
		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Income tax expense	$	4,070,252		$	1,828,984		$	4,064,115		$	4,651,528
	Actual income tax rate	(221.8		)%	49.5		%	(221.8		)%	49.5		%

LongTerm_Debt_Tables

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2013
Long-Term Debt	'
Schedule of long-term debt	'
		September 30,			December 31,
		2013			2012
	Senior Notes due March 2016	$	—		$	57,012,000
	Senior Notes due July 2020	172,854,167			—
	Less: current portion	(1,750,000		)	(4,608,000		)
		$	171,104,167		$	52,404,000
Schedule of maturities of long-term debt	'
	Year Ending
	December 31,
	Remainder of 2013	$	437,500
	2014	1,750,000
	2015	1,750,000
	2016	1,750,000
	2017 and thereafter	168,875,000
		$	174,562,500

Stockholders_Equity_Tables

Stockholder's Equity (Tables)	9 Months Ended
	Sep. 30, 2013
Equity Incentive Plans	'
Summary of stock option activity	'
						Weighted-
				Weighted-		average	Aggregate
		Number		average		contractual	intrinsic
		of shares		exercise price		term	value
	Outstanding at January 1, 2013:	—		$	—	—	$	—
	Granted	1,635,000		11.24		10	1,937,500
	Exercised	—		—		—	—
	Forfeited	—		—		—	—
	Expired	—		—		—	—
	Outstanding at September 30, 2013:	1,635,000		$	11.24	10	$	1,937,500
	Vested at September 30, 2013	275,000		$	10.2	10	$	426,250
	Exercisable at September 30, 2013	275,000		$	10.2	10	$	426,250
Summary of restricted share activity	'
				Weighted-
				average
		Number		grant date
		of shares		fair value
	Outstanding at January 1, 2013:	—		$	—
	Granted	1,195,002		9.81
	Vested	(250,000	)	8.41
	Forfeited	—		—
	Outstanding at September 30, 2013:	945,002		$	10.18
Time-based option | Black-Scholes pricing model	'
Equity Incentive Plans	'
Schedule of valuation assumptions	'
		Nine
		Months
		Ended September 30,
	Black-Scholes Option Valuation Assumptions	2013		2012
	Risk-free interest rates	0.93% - 2.03%		—
	Dividend yield	—		—
	Volatility	35.8% - 36.7%		—
	Weighted-average expected term (years)	6		—
Event-based option | Monte Carlo simulation model	'
Equity Incentive Plans	'
Schedule of valuation assumptions	'
		Nine Months
		Ended September 30,
	Monte Carlo Option Valuation Assumptions	2013		2012
	Risk-free interest rate	1.78	%	—
	Dividend yield	—		—
	Volatility	36.7	%	—
	Weighted-average expected term (years)	5.4 – 5.8		—
Event-based restricted stock | Monte Carlo simulation model	'
Equity Incentive Plans	'
Schedule of valuation assumptions	'
		Nine Months
		Ended September 30,
	Monte Carlo Restricted Stock Valuation Assumptions	2013		2012
	Risk-free interest rate	1.78	%	—
	Dividend yield	—		—
	Volatility	36.7	%	—
	Weighted-average expected term (years)	0.6 - 1.3		—

Commitments_Tables

Commitments (Tables)	9 Months Ended
	Sep. 30, 2013
Commitments	'
Schedule of future minimum payments for operating leases and other commitments, primarily programming	'
	Year Ending	Operating		Other
	December 31,	Leases		Commitments		Total
	Remainder of 2013	$	132,000	$	2,644,256	$	2,776,256
	2014	92,850		5,157,122		5,249,972
	2015	64,941		1,668,067		1,733,008
	2016	7,274		679,433		686,707
	Total	$	297,065	$	10,148,878	$	10,445,943

Multiemployer_Pension_Tables

Multiemployer Pension (Tables)	9 Months Ended
	Sep. 30, 2013
Multiemployer Pension	'
Schedule of further information about the Plan	'
					WAPA PR’s Contributions			Expiration
								Date of
	Pension		Pension Protection Act	Funding Improvement	Three months	Nine months	Surcharge	Collective
			Zone Status	Plan/Rehabilitation Plan	ended September 30,	ended September		Bargaining
	Fund	EIN	2012	Status	2013	30, 2013	Imposed	Agreements
	TNGIPP (Plan No. 001)	52-1082662	Red	Implemented	$32,761	$95,604	Yes	July 23, 2015 June 27, 2016

Nature_of_Business_Details

Nature of Business (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Numerator for (loss) earnings per common share calculation:	'	'	'	'
Net (loss) income	($3,985,117)	$955,689	($6,383,539)	$4,479,920
Denominator for earnings per common share calculation:	'	'	'	'
Weighted-average common shares, basic	42,171,763	1	27,426,256	1
Weighted-average common shares, diluted	42,171,763	1	27,426,256	1
Shares excluded from the computation of diluted (loss) income per common share	600,000	'	600,000	'
WAPA | Espanol and WAPA America	'	'	'	'
Nature of Business	'	'	'	'
Equity interest (as a percent)	100.00%	'	100.00%	'
Espanol | WAPA PR	'	'	'	'
Nature of Business	'	'	'	'
Equity interest (as a percent)	100.00%	'	100.00%	'

Business_Combination_Details

Business Combination (Details) (USD $)	3 Months Ended		9 Months Ended		0 Months Ended		3 Months Ended	0 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Apr. 04, 2013	Apr. 04, 2013	Sep. 30, 2013	Apr. 04, 2013	Apr. 04, 2013	Apr. 04, 2013
					WAPA	Cinelatino	Cinelatino	Cinelatino	Cinelatino	Cinelatino
					item	WAPA	WAPA	WAPA	WAPA	WAPA
							Purchase price allocation adjustment	Class A Common Stock	Class A Common Stock	Class A Common Stock
									Minimum	Maximum
									item
Business Combination	'	'	'	'	'	'	'	'	'	'
Percentage of post-transaction common shares of combined entities obtained by acquirer	'	'	'	'	46.40%	'	'	'	'	'
Percentage of voting rights of combined entities obtained by acquirer	'	'	'	'	59.90%	'	'	'	'	'
Number of directors on the combined entity board of directors represented by acquirer	'	'	'	'	5	'	'	'	'	'
Number of directors on the combined entity board of directors	'	'	'	'	9	'	'	'	'	'
Percentage of total revenues of the combined entities represented as historical revenues by acquirer	'	'	'	'	69.00%	'	'	'	'	'
Amount of consideration issued by acquirer, if certain conditions fulfilled	'	'	'	'	$0	'	'	'	'	'
Total consideration	'	'	'	'	'	129,423,943	'	'	'	'
Cash consideration	'	'	'	'	'	3,800,000	'	'	'	'
Number of shares	'	'	'	'	'	12,567,538	'	'	'	'
Fair value of shares	'	'	'	'	'	128,800,000	'	'	'	'
Estimated fair value of contingent consideration	2,284,475	'	2,284,475	'	'	3,200,000	'	'	'	'
Number of Class B common stock shares issuable under contingent consideration	'	'	'	'	'	1,142,504	'	'	'	'
Closing price per share to be attained for forfeiture of shares (in dollars per share)	'	'	'	'	'	'	'	'	$12.50	$15
Number of trading days within a threshold period during which the closing price per share should attain the specified price per share	'	'	'	'	'	'	'	'20 days	'	'
Number of trading days in threshold for trading days during which closing price per share should attain the specified price per share subject to forfeiture	'	'	'	'	'	'	'	'30 days	'	'
Number of threshold for trading days during which closing price per share should attain the specified price per share subject to forfeiture	'	'	'	'	'	'	'	'	1	'
Number of common stock shares that have been achieved trading price and are no longer subject to forfeiture	'	'	'	'	'	571,252	'	'	'	'
Fair value of shares that have achieved trading price and are no longer subject to forfeiture	'	'	'	'	'	1,200,000	'	'	'	'
Significant assumptions utilized to value contingent consideration	'	'	'	'	'	'	'	'	'	'
Stock Price (in dollars per share)	'	'	'	'	'	$10.25	'	'	'	'
Volatility (as a percent)	'	'	'	'	'	32.50%	'	'	'	'
Risk-Free Rate (as a percent)	'	'	'	'	'	0.69%	'	'	'	'
Allocation of the purchase price	'	'	'	'	'	'	'	'	'	'
Cash	'	'	'	'	'	12,865,242	'	'	'	'
Accounts receivable	'	'	'	'	'	4,052,590	'	'	'	'
Programming rights	'	'	'	'	'	4,459,550	'	'	'	'
Prepaid expenses and other current assets	'	'	'	'	'	939,945	'	'	'	'
Property and equipment, net	'	'	'	'	'	21,415	'	'	'	'
Other assets	'	'	'	'	'	2,054,956	'	'	'	'
Intangible asset - affiliate agreements	'	'	'	'	'	37,900,000	14,200,000	'	'	'
Current liabilities	'	'	'	'	'	-6,271,770	'	'	'	'
Long-term debt	'	'	'	'	'	-32,097,167	'	'	'	'
Fair value of identifiable net assets acquired	'	'	'	'	'	23,924,761	'	'	'	'
Goodwill	'	'	'	'	'	105,499,182	'	'	'	'
Total	'	'	'	'	'	129,423,943	'	'	'	'
Discount rate (as a percent)	'	'	'	'	'	10.00%	'	'	'	'
Estimated remaining useful lives	'	'	'	'	'	'6 years	'	'	'	'
Deferred tax liability	'	'	'	'	'	'	4,900,000	'	'	'
Amortization of intangible assets	$1,636,667	$57,500	$3,330,833	$172,500	'	'	$700,000	'	'	'

Business_Combination_Details_2

Business Combination (Details 2) (USD $)

3 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Apr. 04, 2013

Dec. 31, 2012

Sep. 30, 2013

Apr. 04, 2013

Dec. 31, 2012

Sep. 30, 2013

Apr. 04, 2013

Dec. 31, 2012

Apr. 04, 2013

Sep. 30, 2013

Apr. 04, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Apr. 04, 2013

Apr. 04, 2013

Apr. 04, 2013

Apr. 04, 2013

Apr. 04, 2013

Apr. 04, 2013

Apr. 04, 2013

Apr. 04, 2013

Apr. 04, 2013

Class A Common Stock

Class A Common Stock

Class A Common Stock

Class B Common Stock

Class B Common Stock

Class B Common Stock

Azteca

MVS

Merger transaction

Merger transaction

Merger transaction

Merger transaction

Merger transaction

Merger transaction

Merger transaction

Merger transaction

Merger transaction

Merger transaction

Merger transaction

Merger transaction

Merger transaction

Merger transaction

Pro Forma

Pro Forma

Pro Forma

Pro Forma

Pro Forma

Class A Common Stock

WAPA member and Cinelatino stockholders

WAPA member

WAPA member

Cinelatino stockholders

Cinelatino stockholders

Azteca

Cinelatino

WAPA

Class B Common Stock

Class B Common Stock

Cinelatino

Number of shares of stock of the Company issued and outstanding immediately following the consummation of the Transaction

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Public shares outstanding prior to Transaction

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

10,000,000

'

'

Founder shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,500,000

'

'

Total shares outstanding prior to the Transaction

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12,500,000

'

'

Less: shareholders of public shares redeemed

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-1,258,900

'

'

Less: founder shares cancelled

'

'

'

'

'

'

'

'

'

'

'

'

250,000

'

'

'

'

'

'

'

'

'

'

'

'

-250,000

'

'

Shares issued

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

20,432,462

'

12,567,538

'

'

'

'

Total shares outstanding at closing

'

'

'

'

43,991,100

'

11,241,000

10,991,100

0

33,000,000

33,000,000

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of shares of common stock subject to forfeiture in the event the market price of common stock does not meet certain levels

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

985,294

'

'

1,857,496

'

1,142,504

'

'

'

Cash flows related to the Transaction

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash in trust

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$100,520,532

'

'

Cash on hand

172,940,824

'

172,940,824

'

'

10,084,434

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12,865,242

'

Less: redemption of public shares

'

'

-938,016

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-12,651,945

'

'

Less: cash consideration paid

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-5,000,000

'

'

'

'

-7,333,334

'

-3,800,000

Less: payment of fees and expenses

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-5,963,030

'

'

Net cash received by the Company

'

'

82,437,466

'

'

'

'

'

'

'

'

'

'

'

82,437,465

'

'

'

'

'

'

'

'

'

'

'

'

'

Pro Forma Information

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net Revenues

23,704,566

17,543,854

60,128,741

48,276,913

'

'

'

'

'

'

'

'

'

'

'

23,704,566

23,550,498

66,232,569

66,022,358

'

'

'

'

'

'

'

'

'

Operating Expenses:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cost of revenues

10,290,353

9,234,086

23,817,742

23,258,035

'

'

'

'

'

'

'

'

'

'

'

10,106,353

10,446,262

24,687,086

27,260,184

'

'

'

'

'

'

'

'

'

Selling, general and administrative

6,596,524

3,309,493

21,670,157

9,915,483

'

'

'

'

'

'

'

'

'

'

'

6,448,503

6,404,096

22,305,259

21,733,698

'

'

'

'

'

'

'

'

'

Depreciation and amortization

2,585,615

919,788

6,177,390

2,742,177

'

'

'

'

'

'

'

'

'

'

'

2,585,615

3,233,155

7,025,558

6,751,401

'

'

'

'

'

'

'

'

'

Loss (gain) on disposition of assets

'

'

67,577

-50,000

'

'

'

'

'

'

'

'

'

'

'

'

'

67,577

-50,000

'

'

'

'

'

'

'

'

'

Total operating expenses

19,594,547

13,893,308

56,527,309

36,381,249

'

'

'

'

'

'

'

'

'

'

'

19,140,471

20,083,513

54,085,480

55,695,283

'

'

'

'

'

'

'

'

'

Operating income

4,110,019

3,650,546

3,601,432

11,895,664

'

'

'

'

'

'

'

'

'

'

'

4,564,095

3,466,985

12,147,089

10,327,075

'

'

'

'

'

'

'

'

'

Charge as a result of the termination of a certain agreement

'

'

'

'

'

'

'

'

'

'

'

'

'

$3,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Apr. 04, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Apr. 09, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

MVS

MVS

MVS

MVS

MVS

MVS

MVS

MVS

MVS

MVS

James M. McNamara and entity owned by James M. McNamara

James M. McNamara and entity owned by James M. McNamara

James M. McNamara

Entity owned by James M. McNamara

Entity owned by James M. McNamara

Entity owned by James M. McNamara

IMA

IMA

IMA

IMA

IMA

InterMedia Partners VII, L.P

InterMedia Partners VII, L.P

InterMedia Partners VII, L.P

InterMedia Partners VII, L.P

Satellite and Support Services Agreement

Satellite and Support Services Agreement

Master license agreement

Master license agreement

Affiliation agreement

Affiliation agreement

Distribution agreement

Distribution agreement

Consulting agreements with director and entity owned director

Consulting agreements with director and entity owned director

Consulting agreement with director

Programming agreements

Programming agreements

Programming agreements

Services agreement

Services agreement

Services agreement

Services agreement

Services agreement

Management services agreement

Management services agreement

Management services agreement

Management services agreement

Cinelatino

Cinelatino

Cinelatino

Cinelatino

Cinelatino

Cinelatino

Cinelatino

Cinelatino

WAPA

WAPA

WAPA

WAPA

item

item

Related Party Transactions

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of channel feeds delivered through satellite

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Annual fee for services

'

'

$2,136,000

$2,136,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total expense

'

'

534,003

1,068,006

'

'

'

'

'

'

28,592

55,258

'

'

'

'

33,647

47,339

73,700

116,744

'

0

156,250

0

468,750

Term of agreement

'

'

'

'

'

'10 years

'

'6 years

'

'

'

'

'3 years

'

'

'

'

'

'

'

'

'

'

'

'

Revenue as a percentage of license fees collected from distributors in Latin America and Mexico

'

'

'

'

13.50%

13.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Revenue recognized from related party

'

'

'

'

974,491

1,877,905

423,015

869,217

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Distribution fee as a percentage of revenue received from multiple system operators

'

'

'

'

'

'

'

'

'

13.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash payment on termination of agreement

'

'

'

'

'

'

'

'

3,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Due from related parties, net of allowance for doubtful accounts

1,542,656

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Due to related parties

667,453

0

'

'

'

'

'

'

'

'

0

0

'

'

'

'

40,053

'

40,053

'

57,956

'

'

'

'

Number of specific movie titles to be distributed

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3

'

'

'

'

'

'

'

'

'

Amount of prepaid programming included in other assets

'

'

'

'

'

'

'

'

'

'

'

'

'

67,649

0

'

'

'

'

'

'

'

'

'

'

Programming rights

'

'

'

'

'

'

'

'

'

'

'

'

'

$135,682

$0

'

'

'

'

'

'

'

'

'

'

Goodwill_and_Intangible_Assets2

Goodwill and Intangible Assets (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Dec. 31, 2011
Goodwill and Intangible Assets	'	'	'
Broadcast licenses	$41,355,700	$41,355,700	'
Goodwill	116,481,768	10,982,586	10,982,586
Other intangibles	36,246,667	1,677,500	'
Goodwill and intangible assets	$194,084,135	$54,015,786	'

Goodwill_and_Intangible_Assets3

Goodwill and Intangible Assets (Details 2) (USD $)	9 Months Ended
	Sep. 30, 2013	Dec. 31, 2011	Sep. 30, 2013	Dec. 31, 2012	Dec. 31, 2011	Sep. 30, 2013	Dec. 31, 2012	Dec. 31, 2011
			Broadcast licenses	Broadcast licenses	Broadcast licenses	Other Intangibles	Other Intangibles	Other Intangibles
Changes in the goodwill	'	'	'	'	'	'	'	'
Net balance at the beginning of the period	$10,982,586	$10,982,586	'	'	'	'	'	'
Additions	105,499,182	'	'	'	'	'	'	'
Net balance at the end of the period	116,481,768	10,982,586	'	'	'	'	'	'
Changes in the other indefinite lived intangible assets	'	'	'	'	'	'	'	'
Net balance at the beginning of the period	'	'	41,355,700	41,355,700	41,355,700	700,000	700,000	700,000
Net balance at the end of the period	'	'	41,355,700	41,355,700	41,355,700	700,000	700,000	700,000
Changes in the goodwill and other indefinite lived intangible assets, on a net basis	'	'	'	'	'	'	'	'
Net balance at the beginning of the period	53,038,286	53,038,286	'	'	'	'	'	'
Additions	105,499,182	'	'	'	'	'	'	'
Net balance at the end of the period	$158,537,468	$53,038,286	'	'	'	'	'	'

Goodwill_and_Intangible_Assets4

Goodwill and Intangible Assets (Details 3) (USD $)	3 Months Ended		9 Months Ended				9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
					Affiliate relationships	Affiliate relationships	Affiliate relationships	Affiliate relationships	Affiliate relationships
							Maximum	Minimum	Weighted average
Amortizable intangible assets	'	'	'	'	'	'	'	'	'
Amortization period	'	'	'	'	'	'	'10 years	'6 years	'
Remaining amortization period	'	'	'	'	'	'	'	'	'2 years 10 months 24 days
Net amounts related to other amortizable intangible assets	$35,546,667	'	$35,546,667	'	$35,546,667	$977,500	'	'	'
Aggregate amortization expense of amortizable intangible assets	1,636,667	57,500	3,330,833	172,500	'	'	'	'	'
Future estimated amortization expense	'	'	'	'	'	'	'	'	'
Remainder of 2013	1,636,667	'	1,636,667	'	'	'	'	'	'
2014	6,546,667	'	6,546,667	'	'	'	'	'	'
2015	6,546,667	'	6,546,667	'	'	'	'	'	'
2016	6,546,667	'	6,546,667	'	'	'	'	'	'
2017	6,374,167	'	6,374,167	'	'	'	'	'	'
2018	6,316,667	'	6,316,667	'	'	'	'	'	'
2019	1,579,165	'	1,579,165	'	'	'	'	'	'
Total	$35,546,667	'	$35,546,667	'	$35,546,667	$977,500	'	'	'

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income Taxes	'	'	'	'
Income tax expense	$4,070,252	$1,828,984	$4,064,115	$4,651,528
Actual income tax rate (as a percent)	-221.80%	49.50%	-221.80%	49.50%
Statutory federal income tax rate (as a percent)	34.00%	34.00%	34.00%	34.00%
Puerto Rico	'	'	'	'
Income Taxes	'	'	'	'
Income tax rate (as a percent)	39.00%	'	39.00%	'
Income tax rate before increase (as a percent)	30.00%	'	30.00%	'

LongTerm_Debt_Details

Long-Term Debt (Details) (USD $)

3 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Apr. 13, 2011

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Mar. 31, 2011

Jul. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Mar. 31, 2011

Dec. 31, 2011

Interest rate swap agreement

Interest rate swap agreement

Interest rate swap agreement

Interest rate swap agreement

Interest rate swap agreement

Interest rate swap agreement

Senior Notes due March 2016

Senior Notes due March 2016

Revolving credit line

Revolving credit line

Revolving credit line

Revolving credit line

Revolving credit line

Revolving credit line

Term Loan Facility

Term Loan Facility

Term Loan Facility

Term loan

Senior Notes due June 2017

Long-term debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term debt

$174,562,500

$174,562,500

'

'

'

'

'

'

'

$0

$57,012,000

'

'

'

'

'

'

'

$172,854,167

$0

'

'

Less: current portion

-1,750,000

-1,750,000

-4,608,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term debt less current portion

171,104,167

171,104,167

52,404,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amount of term loan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

175,000,000

'

'

'

'

Uncommitted accordion option base amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

20,000,000

'

'

'

'

Uncommitted accordion option multiplier of 1st lien net leverage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4

'

'

'

'

Reference rate basis

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'LIBOR

'

'

'

'

Interest rate margin (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5.00%

'

'

'

'

Interest rate floor (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.25%

'

'

'

'

OID (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.00%

'

'

'

'

OID

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,750,000

'

'

'

Accumulated amortization of original issue discount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

41,667

'

'

'

Net debt issue costs

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,400,000

'

'

'

Accumulated amortization

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

82,359

'

'

'

Loss on early extinguishment of debt

1,648,546

1,648,546

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,600,000

'

'

'

Maximum period after each fiscal year for prepayment of debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'90 days

'

'

'

Prepayment of debt as a percentage of excess cash flow

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

50.00%

'

'

'

First prepayment of debt as a percentage of excess cash flow, if lower leverage ratio is maintained

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

25.00%

'

'

'

Second prepayment of debt as a percentage of excess cash flow, if lower leverage ratio is maintained

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.00%

'

'

'

Amount of term loan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

66,000,000

'

Borrowing capacity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

10,000,000

'

'

'

'

'

Annual commitment fee (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

0.75%

'

'

'

'

'

'

'

'

Commitment fee

'

'

'

'

'

'

'

'

'

'

'

3,082

18,904

40,274

56,506

'

'

'

'

'

'

'

Amount outstanding under the revolving credit commitment

'

'

'

'

'

'

'

'

'

'

'

0

'

0

'

0

'

'

'

'

'

40,000,000

Maturity term

'

'

'

'2 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Initial notional amount

'

'

'

33,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Variable rate basis for interest receivable

'

'

'

'Three months LIBOR

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fixed rate of interest (as a percent)

'

'

'

1.14%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fair value

'

'

'

'

0

'

0

'

122,032

'

'

'

'

'

'

'

'

'

'

'

'

'

Additional financing income related to the change in the fair value of derivatives

'

'

'

'

0

29,087

122,032

62,146

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maturities of long-term debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Remainder of 2013

437,500

437,500

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2014

1,750,000

1,750,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2015

1,750,000

1,750,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2016

1,750,000

1,750,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2017 and thereafter

168,875,000

168,875,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total maturities

$174,562,500

$174,562,500

'

'

'

'

'

'

'

$0

$57,012,000

'

'

'

'

'

'

'

$172,854,167

$0

'

'

Stockholders_Equity_Details

Stockholder's Equity (Details) (USD $)

Apr. 04, 2013

Sep. 30, 2013

Apr. 04, 2013

Dec. 31, 2012

Sep. 30, 2013

Apr. 04, 2013

Dec. 31, 2012

Apr. 04, 2013

Apr. 04, 2013

Apr. 04, 2013

Apr. 04, 2013

Apr. 04, 2013

In Millions, except Share data, unless otherwise specified

Class B Common Stock

Class B Common Stock

Class B Common Stock

Class A Common Stock

Class A Common Stock

Class A Common Stock

Cinelatino/WAPA Investors

Cinelatino/WAPA Investors

Cinelatino/WAPA Investors

Azteca

Azteca

item

item

Class B Common Stock

Class A Common Stock

Class A Common Stock

Capitalization

'

'

'

'

'

'

'

'

'

'

'

'

Aggregate shares received

'

'

'

'

'

'

'

'

33,000,000

'

'

'

Common Stock, par value (in dollars per share)

'

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

'

'

'

'

'

Cash received for surrender of equity interests

'

'

'

'

'

'

'

$5

'

'

'

'

Warrants purchased from Azteca Acquisition Corporation (in shares)

'

'

'

'

'

'

'

'

'

2,333,334

'

'

Stock conversion ratio

'

'

'

'

'

'

'

'

'

'

'

1

Founder shares cancelled

'

'

'

'

'

'

'

'

'

'

250,000

'

Number of shares of common stock subject to forfeiture in the event the market price of common stock does not meet certain levels

'

'

'

'

'

'

'

'

'

'

'

250,000

Number of shares subject to forfeiture under pre-existing agreements

'

'

'

'

'

'

'

'

'

'

'

735,294

Stock outstanding (in shares)

43,991,100

33,000,000

33,000,000

0

11,241,000

10,991,100

0

'

'

'

'

'

Number of votes per share of common stock

'

'

10

'

'

1

'

'

'

'

'

'

Stockholders_Equity_Details_2

Stockholder's Equity (Details 2) (USD $)	3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013
Equity Incentive Plans	'	'
Shares available for issuance	1,235,547	1,235,547
Stock-Based Compensation	'	'
Stock-based compensation expense (in dollars)	$1,610,911	$4,717,442
Class A Common Stock	'	'
Equity Incentive Plans	'	'
Shares authorized for issuance	4,000,000	4,000,000
Stock Options	'	'
Equity Incentive Plans	'	'
Granted (in shares)	'	1,635,000
Stock-Based Compensation	'	'
Unrecognized compensation cost related to non-vested stock options (in dollars)	5,800,000	5,800,000
Weighted-average periods over which unrecognized compensation cost recognized	'	'1 year 10 months 24 days
Estimated forfeitures (as a percent)	1.50%	1.50%
Valuation assumptions	'	'
Dividend yield (as a percent)	'	0.00%
Weighted average grant date fair value of options granted (in dollars per share)	'	$4.23
Number of shares	'	'
Granted (in shares)	'	1,635,000
Outstanding at the end of the period (in shares)	1,635,000	1,635,000
Vested at the end of the period (in shares)	275,000	275,000
Exercisable at the end of the period (in shares)	275,000	275,000
Weighted-average exercise price	'	'
Granted (in dollars per share)	'	$11.24
Outstanding at the end of the period (in dollars per share)	$11.24	$11.24
Vested at the end of the period (in dollars per share)	$10.20	$10.20
Exercisable at the end of the period (in dollars per share)	$10.20	$10.20
Weighted-average contractual term	'	'
Outstanding at the beginning of the period	'	'10 years
Granted	'	'10 years
Outstanding at the end of the period	'	'10 years
Vested at the end of the period	'	'10 years
Exercisable at the end of the period	'	'10 years
Aggregate intrinsic value	'	'
Granted (in dollars)	'	1,937,500
Outstanding at the end of the period (in dollars)	1,937,500	1,937,500
Vested at the end of the period (in dollars)	426,250	426,250
Exercisable at the end of the period (in dollars)	426,250	426,250
Stock Options | Class A Common Stock	'	'
Equity Incentive Plans	'	'
Granted (in shares)	'	1,635,000
Number of shares	'	'
Granted (in shares)	'	1,635,000
Restricted Stock	'	'
Equity Incentive Plans	'	'
Granted (in shares)	'	1,195,002
Stock-Based Compensation	'	'
Unrecognized compensation cost related to non-vested restricted stock (in dollars)	$7,800,000	$7,800,000
Weighted-average periods over which unrecognized compensation cost recognized	'	'1 year 3 months 18 days
Number of shares	'	'
Granted (in shares)	'	1,195,002
Vested (in shares)	'	-250,000
Outstanding at the end of the period (in shares)	945,002	945,002
Weighted-average grant date fair value	'	'
Granted (in dollars per share)	'	$9.81
Vested (in dollars per share)	'	$8.41
Outstanding at the end of the period (in dollars per share)	$10.18	$10.18
Restricted Stock | Class A Common Stock	'	'
Equity Incentive Plans	'	'
Granted (in shares)	'	1,195,002
Number of shares	'	'
Granted (in shares)	'	1,195,002
Time-based restricted stock awards and option awards	'	'
Equity Incentive Plans	'	'
Number of equal annual installments for vesting of awards	3	3
Time-based option	'	'
Weighted-average grant date fair value	'	'
Vesting period	'	'3 years
Time-based option | Black-Scholes pricing model	'	'
Valuation assumptions	'	'
Weighted-average expected term	'	'6 years
Time-based option | Black-Scholes pricing model | Maximum	'	'
Valuation assumptions	'	'
Risk-free interest rates (as a percent)	'	2.03%
Volatility (as a percent)	'	36.70%
Time-based option | Black-Scholes pricing model | Minimum	'	'
Valuation assumptions	'	'
Risk-free interest rates (as a percent)	'	0.93%
Volatility (as a percent)	'	35.80%
Time-based restricted stock	'	'
Weighted-average grant date fair value	'	'
Vesting period	'	'3 years
Event-based restricted stock awards and option awards | Class A Common Stock | Maximum	'	'
Equity Incentive Plans	'	'
Closing price per share to be attained for vesting of awards to begin (in dollars per share)	'	$15
Event-based restricted stock awards and option awards | Class A Common Stock | Minimum	'	'
Equity Incentive Plans	'	'
Closing price per share to be attained for vesting of awards to begin (in dollars per share)	'	$12.50
Number of trading days on which the closing price per share should attain the specified price per share for vesting of awards to begin	10	10
Event-based option	'	'
Aggregate intrinsic value	'	'
Unvested options	300,000	300,000
Event-based option | Monte Carlo simulation model	'	'
Valuation assumptions	'	'
Risk-free interest rates (as a percent)	'	1.78%
Volatility (as a percent)	'	36.70%
Event-based option | Monte Carlo simulation model | Maximum	'	'
Valuation assumptions	'	'
Weighted-average expected term	'	'5 years 9 months 18 days
Event-based option | Monte Carlo simulation model | Minimum	'	'
Valuation assumptions	'	'
Weighted-average expected term	'	'5 years 4 months 24 days
Event-based restricted stock	'	'
Aggregate intrinsic value	'	'
Unvested options	150,000	150,000
Event-based restricted stock | Monte Carlo simulation model	'	'
Valuation assumptions	'	'
Risk-free interest rates (as a percent)	'	1.78%
Volatility (as a percent)	'	36.70%
Event-based restricted stock | Monte Carlo simulation model | Maximum	'	'
Valuation assumptions	'	'
Weighted-average expected term	'	'1 year 3 months 18 days
Event-based restricted stock | Monte Carlo simulation model | Minimum	'	'
Valuation assumptions	'	'
Weighted-average expected term	'	'7 months 6 days

Commitments_Details

Commitments (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Commitments	'	'	'	'
Rental expense	$79,913	$56,716	$199,915	$140,744
Future minimum payments for operating leases	'	'	'	'
Remainder of 2013	132,000	'	132,000	'
2014	92,850	'	92,850	'
2015	64,941	'	64,941	'
2016	7,274	'	7,274	'
Total	297,065	'	297,065	'
Future minimum payments for other commitments	'	'	'	'
Remainder of 2013	2,644,256	'	2,644,256	'
2014	5,157,122	'	5,157,122	'
2015	1,668,067	'	1,668,067	'
2016	679,433	'	679,433	'
Total	10,148,878	'	10,148,878	'
Future minimum payments for operating leases and other commitments	'	'	'	'
Remainder of 2013	2,776,256	'	2,776,256	'
2014	5,249,972	'	5,249,972	'
2015	1,733,008	'	1,733,008	'
2016	686,707	'	686,707	'
Total	$10,445,943	'	$10,445,943	'

Multiemployer_Pension_Details

Multiemployer Pension (Details) (WAPA PR, USD $)	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
		Multiemployer pension	Multiemployer pension	Multiemployer pension	Multiemployer pension	Multiemployer pension	Multiemployer pension
			item	Maximum	Beginning on January 1, 2013	Beginning on January 1, 2014	Beginning on January 1, 2015
Multiemployer pension	'	'	'	'	'	'	'
Ownership interest (as a percent)	100.00%	'	'	'	'	'	'
Number of collective bargaining agreements	'	'	2	'	'	'	'
Increase in the contribution rate agreed by the company under the "preferred schedule" of the Rehabilitation Plan (as a percent)	'	'	'	'	3.00%	3.00%	3.00%
Period beginning on the effective date of the MOA during which withdrawal from the plan would result in additional contribution due to the unfunded vested benefits	'	'	'5 years	'	'	'	'
Surcharge in the initial year (as a percent)	'	'	5.00%	'	'	'	'
Surcharge for each successive year, thereafter, the plan is in critical status (as a percent)	'	'	10.00%	'	'	'	'
Total contributions made to the Plan	'	'	'	5.00%	'	'	'
Contributions	'	$32,761	$95,604	'	'	'	'