Hemisphere Media (HMTV) 10-Q7 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	5-May-14	5-May-14
	Mar. 31, 2014	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	31-Mar-14	'	'
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	'	12,046,519	33,000,000
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q1	'	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Current Assets	'	'
Cash	$73,909	$176,622
Cash held in escrow	101,891	'
Accounts receivable, net of allowance for doubtful accounts of $160 and $137, respectively	13,982	15,589
Due from related parties, net of allowance for doubtful accounts of $578 and $514, respectively	1,851	2,142
Programming rights	5,366	5,748
Prepaid expenses and other current assets	4,291	4,078
Total current assets	201,290	204,179
Programming rights	7,365	7,000
Property and equipment, net	24,416	24,675
Deferred financing costs	3,124	3,251
Broadcast license	41,356	41,356
Goodwill	130,794	130,794
Other intangibles, net	32,973	34,610
Other assets	870	783
Total Assets	442,188	446,648
Current Liabilities	'	'
Accounts payable	1,662	1,566
Due to related parties	778	738
Accrued agency commissions	1,159	6,101
Accrued compensation and benefits	2,479	2,374
Other accrued expenses	3,856	4,928
Programming rights payable	4,475	4,585
Deferred taxes	8,135	8,135
Current portion of long-term debt	1,750	1,750
Total current liabilities	24,294	30,177
Programming rights payable	858	837
Long-term debt, net of current portion	170,358	170,731
Deferred taxes	2,040	2,040
Defined benefit pension obligation	2,087	2,075
Total Liabilities	199,637	205,860
Commitments and Contingencies	'	'
Stockholders' Equity	'	'
Preferred stock, $0.0001 par value; 50,000,000 shares authorized; 0 shares issued and outstanding at March 31, 2014 and December 31, 2013	'	'
Additional paid-in capital	242,332	240,817
Treasury stock, at cost; 65,549 at March 31, 2014 and December 31, 2013	-938	-938
Retained earnings	1,789	1,541
Accumulated comprehensive loss	-636	-636
Total Stockholders' Equity	242,551	240,788
Total Liabilities and Stockholders' Equity	442,188	446,648
Class A common stock	'	'
Stockholders' Equity	'	'
Common stock	1	1
Class B common stock	'	'
Stockholders' Equity	'	'
Common stock	$3	$3

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Accounts receivable, allowance for doubtful accounts	$160	$137
Due from related parties, allowance for doubtful accounts	$578	$514
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	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	11,241,050	11,241,000
Common stock, shares outstanding	11,241,050	11,241,000
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	33,000,000
Common stock, shares outstanding	33,000,000	33,000,000

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Condensed Consolidated Statements of Operations	'	'
Net revenues	$20,951	$13,495
Operating Expenses:	'	'
Cost of revenues	7,598	5,856
Selling, general and administrative	6,881	3,429
Depreciation and amortization	2,578	1,010
Other expenses	249	3,292
(Gain) loss on disposition of assets	-2	25
Total operating expenses	17,304	13,612
Operating income (loss)	3,647	-117
Other Expenses:	'	'
Interest expense, net	-2,907	-759
Other expense, net	'	-12
Total other expenses	-2,907	-771
Income (loss) before income taxes	740	-888
Income tax (expense) benefit	-492	363
Net income (loss)	$248	($525)
Earnings (loss) per share:	'	'
Basic (in dollars per share)	$0.01	($525)
Diluted (in dollars per share)	$0.01	($525)
Weighted average shares outstanding:	'	'
Basic (in shares)	42,172	1
Diluted (in shares)	42,609	1

Condensed_Consolidated_Stateme1

Condensed Consolidated Statement of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Condensed Consolidated Statement of Comprehensive Income	'	'
Net income (loss)	$248	($525)
Comprehensive income (loss)	$248	($525)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Changes in Stockholders' Equity (USD $)	Total	Common Stock	Common Stock	Additional Paid In Capital	Treasury Stock	Retained Earnings	Accumulated Comprehensive (Loss)
In Thousands, unless otherwise specified	Total	Class A Common Stock	Class B common stock	Additional Paid In Capital	Class A Common Stock	Retained Earnings	Accumulated Comprehensive (Loss)
Balance at the beginning of the period at Dec. 31, 2013	$240,788	$1	$3	$240,817	($938)	$1,541	($636)
Balance at the beginning of the period (in shares) at Dec. 31, 2013	'	11,241	33,000	'	'	'	'
Changes in Member's Capital	'	'	'	'	'	'	'
Net income	248	'	'	'	'	248	'
Stock-based compensation	1,514	'	'	1,514	'	'	'
Exercise of warrants	1	'	'	1	'	'	'
Balance at the end of the period at Mar. 31, 2014	$242,551	$1	$3	$242,332	($938)	$1,789	($636)
Balance at the end of the period (in shares) at Mar. 31, 2014	'	11,241	33,000	'	'	'	'

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Reconciliation of Net Income (Loss) to Net Cash Provided by Operating Activities:	'	'
Net income (loss)	$248	($525)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:	'	'
Depreciation and amortization	2,578	1,010
Program amortization	2,444	1,741
Amortization of deferred financing costs	127	200
Amortization of original issue discount	64	'
Stock-based compensation	1,514	'
Provision for bad debts	84	20
(Gain) loss on disposition of assets	-2	25
Deferred tax expense	'	-371
(Increase) decrease in:	'	'
Accounts receivable	1,588	2,279
Programming rights	-2,427	-4,214
Due from related parties	227	'
Prepaid expenses and other current assets	-300	-786
Increase (decrease) in:	'	'
Accounts payable	96	2,953
Due to related parties	40	'
Accrued expenses	-5,909	-7,287
Programming rights payable	-89	2,278
Other liabilities	12	40
Net cash provided by (used in) operating activities	295	-2,637
Cash Flows From Investing Activities:	'	'
Proceeds from sale of assets	7	'
Capital expenditures	-687	-233
Cash held in escrow in connection with the Cable Networks Acquisition	-101,891	'
Net cash used in investing activities	-102,571	-233
Cash Flows From Financing Activities:	'	'
Repayments of long-term debt	-438	'
Proceeds from issuance of stock	1	'
Net cash used in financing activities	-437	'
Net decrease in cash	-102,713	-2,870
Cash:	'	'
Beginning	176,622	10,084
Ending	73,909	7,214
Cash payments for:	'	'
Interest	$2,721	$639

Nature_of_Business

Nature of Business	3 Months Ended
	Mar. 31, 2014
Nature of Business	'
Nature of Business	'
	Note 1. Nature of Business

	Nature of business: The accompanying condensed 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. The Company determines its operating segments based upon (i) financial information reviewed by the chief operating decision maker, the Chief Executive Officer, (ii) internal management and related reporting structure and (iii) the basis upon which the chief operating decision maker makes resource allocation decisions. We have one operating segment, Hemisphere. In these notes, the terms “Company,” “we,” “us” or “our” mean Hemisphere and all subsidiaries included in our condensed consolidated financial statements.

	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 (“U.S. GAAP”) 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 period ended, March 31, 2014 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, 2014. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Form 10-K for the fiscal year ended December 31, 2013.

	As discussed in Note 2 of the financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2013, on April 4, 2013, the merger by and among Cinelatino, WAPA and Azteca as indirect, wholly-owned subsidiaries of Hemisphere (the “Transaction”) was consummated. The Transaction was accounted for by applying the acquisition method in accordance with Accounting Standards Codification (ASC) Topic 805, “Business Combinations.” As such, WAPA was determined to be the accounting acquirer and predecessor, whose historical results are the historical results of Hemisphere for the three month period ended March 31, 2013.

	Net Earnings (Loss) per Common Share: Basic earnings (loss) 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 (amounts in thousands):

		Three Months Ended March 31,
		2014		2013

	Numerator for earnings (loss) per common share calculation:
	Net income (loss):	$	248	$	(525	)

	Denominator for earnings (loss) per common share calculation:
	Weighted-average common shares, basic	42,172		1
	Effect of dilutive securities:
	Stock options and restricted stock	437		—
	Weighted-average common shares, diluted	42,609		1


	We apply the treasury stock method to measure the dilutive effect of our outstanding stock options and restricted stock awards and include the respective common share equivalents in the denominator of our diluted income (loss) per common share calculation. Potentially dilutive securities representing 8.2 million shares of common stock for the three months ended March 31, 2014, were excluded from the computation of diluted income per common share for this period because their effect would have been anti-dilutive. The net income (loss) per share amounts are the same for our Class A common stock, par value $0.0001 per share (“Class A common stock”) and Class B common stock, par $0.0001 per share (“Class B common stock”) because the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation.

	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 three months ended March 31, 2014 and 2013. 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.

	Recent accounting pronouncements: In July 2013, the FASB issued ASU No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This ASU clarifies guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. We adopted this ASU effective January 1, 2014. The adoption did not have a material change in our financial statement presentation.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
Related Party Transactions	Mar. 31, 2014
Related Party Transactions	'
Related Party Transactions	'
	Note 2. Related Party Transactions

	We have 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 is approximately $2.1 million. Total expenses incurred were $0.5 million and $0 for the three months ended March 31, 2014 and 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 $1.0 million and $0 for the three months ended March 31, 2014 and 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 $0.5 million and $0 for the three months ended March 31, 2014 and 2013 respectively.
	· In November 2013, Cine Latino licensed six movies from MVS. The agreement granted Cinelatino certain cable television and free video on demand rights in the United States, its territories, possessions, and commonwealths (including Puerto Rico), and Latin America (excluding Brazil). Expenses incurred under this agreement are included in selling, general and administrative expenses and amounted to $5,557 for the three months ended March 31, 2014. At March 31, 2014 and December 31, 2013, $0.1 million is included in programming rights related to this agreement.

	Amounts due from MVS pursuant to the agreements noted above, net of an allowance for doubtful accounts, amounted to $1.8 million and $2.1 million at March 31, 2014 and December 31, 2013, respectively, and are remitted monthly. Amounts due to MVS pursuant to the agreements noted above amounted to $0.5 million at March 31, 2014 and December 31, 2013 and are remitted monthly.

	We 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 $45,698 and $0 for the three months ended March 31, 2014 and 2013, respectively. Amounts due this related party amounted to $0 at March 31, 2014 and December 31, 2013.

	We have also entered into programming agreements with an entity owned by James M. McNamara for the distribution of three specific movie titles. Expenses incurred under this agreement are included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations and amounted to $1,895 and $0 for the three months ended March 31, 2014 and 2013, respectively. At March 31, 2014 and December 31, 2013, $0.1 million is included in other assets in the accompanying condensed consolidated balance sheets as prepaid programming related to these agreements.

	During 2013, Cinelatino engaged Pantelion to assist Cinelatino in the theatrical distribution of Nosotros Los Nobles, a feature film licensed by Cinetino, in the United States. Pantelion is a studio made up of several organizations, including Panamax Films, LLC (“Panamax”), Lions Gate Films Inc., and Grupo Televisa. Panamax is owned by James McNamara, who is also the Chairman of Pantelion. Cinelatino agreed to pay to Pantelion in connection with their services no more than 12.5% of all Cinelatino’s “rentals” (box-office proceeds earned by Cinetino during Nosotros Los Nobles’ theatrical run) and reimbursable expenses. Total expenses incurred are included in cost of revenues in the accompanying condensed consolidated statements of operations and amounted to $0 for the three months ended March 31, 2014. Amounts due Pantelion at March 31, 2014 and December 31, 2013 totaled $0.2 million and $0.2 million, respectively.

	We 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, we reimbursed IMA for payments made on our behalf for similar services. Such expenses are included in selling, general and administrative expenses and amounted to $0 for the three months ended March 31, 2014. Amounts due to this related party were $38,705 at March 31, 2014 and December 31, 2013.

Goodwill_and_Intangible_Assets

Goodwill and Intangible Assets	3 Months Ended
Goodwill and Intangible Assets	Mar. 31, 2014
Goodwill and Intangible Assets	'
Goodwill and Intangible Assets	'
	Note 3. Goodwill and Intangible Assets

	Goodwill and intangible assets consist of the following at March 31, 2014 and December 31, 2013 (amounts in thousands):

		March 31,			December 31,
		2014			2013
	Broadcast licenses	$	41,356		$	41,356
	Goodwill	130,794			130,794
	Affiliate relationships, net	32,273			33,910
	Other intangible	700			700
	Total intangible assets	$	205,123		$	206,760

	A summary of the changes in our other amortizable intangible assets for the three months ended March 31, 2014 is as follows (amounts in thousands)

		Balance at									Net Balance at
		December 31, 2013			Additions			Amortization			March 31, 2014
	Affiliate relationships	$	33,910		$	—		$	(1,637	)	$	32,273


	As of March 31, 2014 and December 31, 2013 we have the following net amounts related to other amortizable intangible assets (amounts in thousands):

		Amortization		March 31,			December 31,
		Term (Years)		2014			2013
	Affiliate relationships	10-Jun		$	32,273		$	33,910


	The aggregate amortization expense of our amortizable intangible assets was $1.6 million and $0.1 million for the three months ended March 31, 2014 and 2013. The weighted average remaining amortization period is 5.0 years at March 31, 2014.

	Future estimated amortization expense is as follows (amounts in thousands):

	Year Ending
	December 31,	Amount
	Remainder 2014	$	4,909
	2015	6,547
	2016	6,547
	2017	6,374
	2018	6,317
	2019 and thereafter	1,579
		$	32,273

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Taxes	'
Income Taxes	'
	Note 4. Income Taxes

	For the three months ended March 31, 2014 and 2013, our income tax expense (benefit) and effective tax rates were as follows:

		Three Months Ended March 31,
		2014			2013
	Income tax expense (benefit)	$	492		$	(363	)
	Actual income tax rate	38.8		%	41.4		%


	Current tax expense for the three months ended March 31, 2014 and 2013 includes $0.2 million and $0 of foreign withholding tax, respectively.

	For the three months ended March 31, 2014, our statutory Federal income tax rate of 35.0% increased to the effective income tax rate of 38.8% primarily due to state income taxes. For the three ended March 31, 2013, our statutory Federal income tax rate of 34.0% increased to the effective income tax rate of 41.4% primarily as a result of increases in taxes in Puerto Rico that will not generate offsetting U.S. income tax credits.

LongTerm_Debt

Long-Term Debt	3 Months Ended
Long-Term Debt	Mar. 31, 2014
Long-Term Debt	'
Long-Term Debt	'
	Note 5. Long-Term Debt

	Long-term debt as of March 31, 2014 and December 31, 2013 consists of the following (amounts in thousands):

		March 31,			December 31,
		2014			2013
	Senior Notes due July 2020	$	172,108		$	172,481
	Less: current portion	(1,750		)	(1,750		)
		$	170,358		$	170,731

	On July 30, 2013 certain of our 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. The obligations under the Term Loan Facility are guaranteed by HMTV, LLC, our direct wholly-owned subsidiary, and all of our existing and future subsidiaries (subject to certain exceptions in the case of immaterial subsidiaries). The Term Loan Facility is secured by a first-priority perfected security interest in substantially all of the assets of the Company. Pricing on the Term Loan Facility was set at LIBOR plus 500 basis points (with a LIBOR floor of 1.25%), resulting in an effective interest rate 6.25%, and 1.0% of original issue discount (“OID”). The OID of $1.6 million, net of accumulated amortization of $0.2 million at March 31, 2014, 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 our subsidiaries, to pay fees and expenses associated with the financing, and for general corporate purposes including potential future acquisitions. We recorded $3.1 million of debt issue costs associated with the Term Loan Facility, net of accumulated amortization of $0.3 million at March 31, 2014.

	The Term Loan Facility principal payments are payable on quarterly due dates commencing September 30, 2013 and a final installment on July 30, 2020.

	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.

	The carrying value of the long-term debt approximates fair value at December 31, 2013 and March 31, 2014. 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 March 31, 2014 (amounts in thousands):

	Year Ending
	December 31,
	Remainder of 2014	$	1,313
	2015	1,750
	2016	1,750
	2017	1,750
	2018 and thereafter	167,125
		$	173,688

Stockholders_Equity

Stockholder's Equity	3 Months Ended
Stockholder's Equity	Mar. 31, 2014
Stockholder's Equity	'
Stockholder's Equity	'
	Note 6. Stockholder’s Equity

	Equity Incentive Plans

	An aggregate of 4.0 million 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”). As of March 31, 2014, 1.2 million shares of restricted Class A common stock and 1.7 million options to purchase shares of our Class A common stock were awarded under the Plan. At March 31, 2014, 1.1 million 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 us 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. Our board of directors 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.

	Our 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 us. Our event-based restricted stock awards and option awards generally vest upon our Class A common stock attaining a $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 us. Other event-based restricted stock awards granted to certain members of our Board vest on the day preceding our 2014 annual shareholder meeting.

	Stock-Based Compensation

	Stock-based compensation expense related to stock options and restricted stock was $1.5 million and $0 for the three months ended March 31, 2014 and 2013, respectively. At March 31, 2014, there was $4.3 million of total unrecognized compensation cost related to non-vested stock options, which is expected to be recognized over weighted-average period of 3.2 years. At March 31, 2014, there was $5.6 million of total unrecognized compensation cost related to non-vested restricted stock, which is expected to be recognized over a weighted-average period of 2.1 years.

	Stock Options

	The following table summarizes stock option activity for the three months ended March 31, 2014 (shares and intrinsic value in thousands):

								Weighted-
					Weighted-			average		Aggregate
			Number		average			contractual		intrinsic
			of shares		exercise price			term		value

	Outstanding at December 31, 2013:		1,730		$	11.2		9.3		$	2,403
	Granted		—		—			—		—
	Exercised		—		—			—		—
	Forfeited		—		—			—		—
	Expired		—		—			—		—
	Outstanding at March 31, 2014:		1,730		$	11.2		9.1		$	2,403
	Vested at March 31, 2014		275		$	10.2		9		$	657
	Exercisable at March 31, 2014		275		$	10.2		9		$	657

	At March 31, 2014, 0.3 million options granted are unvested, event-based options.

	Restricted Stock

	The following table summarizes restricted share activity for the three months ended March 31, 2014 (shares in thousands)

					Weighted-
					average
			Number		grant date
			of shares		fair value

	Outstanding at December 31, 2013:		945		$	10.18
	Granted		—		—
	Vested		—		—
	Forfeited		—		—
	Outstanding at March 31, 2014:		945		$	10.18

	At March 31, 2014, 0.2 million shares of restricted stock issued are unvested, event-based shares.

	Warrants

	In connection with our capitalization noted above, we have issued 14.7 million warrants, which qualify as equity instruments. Each warrant entitles the holder to purchase one-half of one share of our Class A common stock at a price of $6.00 per half share. At December 31, 2013, 14.7 million warrants were issued and outstanding, which are exercisable into 7.3 million shares of our Class A common stock. Warrants are only exercisable for a whole number of shares of common stock (i.e. only an even number of warrants may be exercised at any given time by a registered holder). As a result, a holder must exercise a least two warrants, at an effective exercise price of $12.00 per share. At our option, 10.0 million warrants may be called for redemption, provided that the last sale price of our Class A common stock reported has been at least $18.00 per share on each of twenty trading days within the thirty-day period ending on the third business day prior to the date on which notice of redemption is given. The warrants expire on April 4, 2018.

	The following table summarizes warrant activity for the three months ended March 31, 2014 (shares and intrinsic value in thousands):

								Weighted-
					Weighted-			average		Aggregate
			Number		average			contractual		intrinsic
			of shares		exercise price			term		value

	Outstanding at December 31, 2013:		7,333		$	12		4.3		$	4,327
	Issued		—		—			—		—
	Exercised		—		—			—		—
Expired		—		—			—		—
Outstanding at March 31, 2014:		7,333		$	12		4		$	4,327

During the three months ended March 31, 2014, we issued 50 shares of our Class A common stock upon the exercise of warrants, for total exercise proceeds of $600.

Contingencies

Contingencies	3 Months Ended
Contingencies	Mar. 31, 2014
Contingencies	'
Contingencies	'
	Note 7. Contingencies

	We are 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 our financial condition.

Commitments

Commitments	3 Months Ended
	Mar. 31, 2014
Commitments	'
Commitments	'
	Note 8. Commitments

	We have entered into certain rental property contracts with third parties, which are accounted for as operating leases. Rental expense was $0.1 million and $0.1 million for the three months ended March 31, 2014 and 2013, respectively.

	We have certain commitments including various operating leases.

	Future minimum payments for these commitments and other commitments, are as follows (amounts in thousands):

	Year Ending	Operating		Other
	December 31,	Lease		Commitments		Total
	Remainder of 2014	$	210	$	5,258	$	5,468
	2015	65		2,771		2,836
	2016	7		1,704		1,711
	2017	—		269		269
	2018 and thereafter	—		6		6
	Total	$	282	$	10,008	$	10,290

Subsequent_Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2014
Subsequent Events	'
Subsequent Events	'
	Note 9. Subsequent Events

	On April 1, 2014, we acquired the assets of three Spanish-language cable television networks from Media World, LLC, a Florida limited liability company, for approximately $101.9 million, subject to certain adjustments, paid in cash (the “Cable Networks Acquisition”). The three acquired cable networks include (i) Pasiones; (ii) Centroamerica TV and (iii) TV Dominicana.

	We are currently in the process of valuing the assets acquired and liabilities assumed in the business combination. Upon the completion of the valuation analysis, we expect to provide the amounts recognized as of the acquisition date for the major classes of the assets acquired and liabilities assumed. Based on historical acquisitions we have made, we expect to allocate a portion of the purchase price to identifiable intangibles, including, but not limited to, certain definite-lived intangibles, such as affiliation agreements, that would be amortized over the estimated useful life of such agreements. For more information, see Exhibit 99.3 to our Current Report on Form 8-K filed with the Securities and Exchange Commission on April 1, 2014.

Nature_of_Business_Policies

Nature of Business (Policies)	3 Months Ended
	Mar. 31, 2014
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 (“U.S. GAAP”) 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 period ended, March 31, 2014 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, 2014. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Form 10-K for the fiscal year ended December 31, 2013.

	As discussed in Note 2 of the financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2013, on April 4, 2013, the merger by and among Cinelatino, WAPA and Azteca as indirect, wholly-owned subsidiaries of Hemisphere (the “Transaction”) was consummated. The Transaction was accounted for by applying the acquisition method in accordance with Accounting Standards Codification (ASC) Topic 805, “Business Combinations.” As such, WAPA was determined to be the accounting acquirer and predecessor, whose historical results are the historical results of Hemisphere for the three month period ended March 31, 2013.
Net Earnings (Loss) per Common Share:	'
	Net Earnings (Loss) per Common Share: Basic earnings (loss) 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 (amounts in thousands):

		Three Months Ended March 31,
		2014		2013

	Numerator for earnings (loss) per common share calculation:
	Net income (loss):	$	248	$	(525	)

	Denominator for earnings (loss) per common share calculation:
	Weighted-average common shares, basic	42,172		1
	Effect of dilutive securities:
	Stock options and restricted stock	437		—
	Weighted-average common shares, diluted	42,609		1


	We apply the treasury stock method to measure the dilutive effect of our outstanding stock options and restricted stock awards and include the respective common share equivalents in the denominator of our diluted income (loss) per common share calculation. Potentially dilutive securities representing 8.2 million shares of common stock for the three months ended March 31, 2014, were excluded from the computation of diluted income per common share for this period because their effect would have been anti-dilutive. The net income (loss) per share amounts are the same for our Class A common stock, par value $0.0001 per share (“Class A common stock”) and Class B common stock, par $0.0001 per share (“Class B common stock”) because the holders of each class are legally entitled to equal per share distributions whether through dividends or in liquidation.
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 three months ended March 31, 2014 and 2013. 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.
Recent accounting pronouncements:	'
	Recent accounting pronouncements: In July 2013, the FASB issued ASU No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This ASU clarifies guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. We adopted this ASU effective January 1, 2014. The adoption did not have a material change in our financial statement presentation.

Nature_of_Business_Tables

Nature of Business (Tables)	3 Months Ended
	Mar. 31, 2014
Nature of Business	'
Schedule of the computation of the common shares outstanding used in determining basic and diluted EPS	'
	The following table sets forth the computation of the common shares outstanding used in determining basic and diluted EPS (amounts in thousands):

		Three Months Ended March 31,
		2014		2013

	Numerator for earnings (loss) per common share calculation:
	Net income (loss):	$	248	$	(525	)

	Denominator for earnings (loss) per common share calculation:
	Weighted-average common shares, basic	42,172		1
	Effect of dilutive securities:
	Stock options and restricted stock	437		—
	Weighted-average common shares, diluted	42,609		1

Goodwill_and_Intangible_Assets1

Goodwill and Intangible Assets (Tables)	3 Months Ended
Goodwill and Intangible Assets (Tables)	Mar. 31, 2014
Goodwill and Intangible Assets	'
Schedule of goodwill and intangible assets	'
	Goodwill and intangible assets consist of the following at March 31, 2014 and December 31, 2013 (amounts in thousands):

		March 31,			December 31,
		2014			2013
	Broadcast licenses	$	41,356		$	41,356
	Goodwill	130,794			130,794
	Affiliate relationships, net	32,273			33,910
	Other intangible	700			700
	Total intangible assets	$	205,123		$	206,760
Summary of the changes in other amortizable intangible assets	'
	A summary of the changes in our other amortizable intangible assets for the three months ended March 31, 2014 is as follows (amounts in thousands)

		Balance at									Net Balance at
		December 31, 2013			Additions			Amortization			March 31, 2014
	Affiliate relationships	$	33,910		$	—		$	(1,637	)	$	32,273


Schedule of net amounts related to other amortizable intangible assets	'
	As of March 31, 2014 and December 31, 2013 we have the following net amounts related to other amortizable intangible assets (amounts in thousands):

		Amortization		March 31,			December 31,
		Term (Years)		2014			2013
	Affiliate relationships	10-Jun		$	32,273		$	33,910
Schedule of future estimated amortization expense	'
	Future estimated amortization expense is as follows (amounts in thousands):

	Year Ending
	December 31,	Amount
	Remainder 2014	$	4,909
	2015	6,547
	2016	6,547
	2017	6,374
	2018	6,317
	2019 and thereafter	1,579
		$	32,273

Income_Taxes_Tables

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2014
Income Taxes	'
Schedule of income tax expense (benefit) and effective tax rates	'


		Three Months Ended March 31,
		2014			2013
	Income tax expense (benefit)	$	492		$	(363	)
	Actual income tax rate	38.8		%	41.4		%

LongTerm_Debt_Tables

Long-Term Debt (Tables)	3 Months Ended
Long-Term Debt (Tables)	Mar. 31, 2014
Long-Term Debt	'
Schedule of long-term debt	'
	Long-term debt as of March 31, 2014 and December 31, 2013 consists of the following (amounts in thousands):

		March 31,			December 31,
		2014			2013
	Senior Notes due July 2020	$	172,108		$	172,481
	Less: current portion	(1,750		)	(1,750		)
		$	170,358		$	170,731

Schedule of maturities of long-term debt	'
	Following are maturities of long-term debt, as of March 31, 2014 (amounts in thousands):

	Year Ending
	December 31,
	Remainder of 2014	$	1,313
	2015	1,750
	2016	1,750
	2017	1,750
	2018 and thereafter	167,125
		$	173,688

Stockholders_Equity_Tables

Stockholder's Equity (Tables)	3 Months Ended
Stockholder's Equity (Tables)	Mar. 31, 2014
Stockholder's Equity	'
Summary of stock option activity	'
	The following table summarizes stock option activity for the three months ended March 31, 2014 (shares and intrinsic value in thousands):

					Weighted-
			Weighted-		average	Aggregate
		Number	average		contractual	intrinsic
		of shares	exercise price		term	value

	Outstanding at December 31, 2013:	1,730	$	11.2	9.3	$	2,403
	Granted	—	—		—	—
	Exercised	—	—		—	—
	Forfeited	—	—		—	—
	Expired	—	—		—	—
	Outstanding at March 31, 2014:	1,730	$	11.2	9.1	$	2,403
	Vested at March 31, 2014	275	$	10.2	9	$	657
	Exercisable at March 31, 2014	275	$	10.2	9	$	657
Summary of restricted share activity	'
	The following table summarizes restricted share activity for the three months ended March 31, 2014 (shares in thousands)

			Weighted-
			average
		Number	grant date
		of shares	fair value

	Outstanding at December 31, 2013:	945	$	10.18
	Granted	—	—
	Vested	—	—
	Forfeited	—	—
	Outstanding at March 31, 2014:	945	$	10.18
Schedule of warrants activity	'
	The following table summarizes warrant activity for the three months ended March 31, 2014 (shares and intrinsic value in thousands):

					Weighted-
			Weighted-		average	Aggregate
		Number	average		contractual	intrinsic
		of shares	exercise price		term	value

	Outstanding at December 31, 2013:	7,333	$	12	4.3	$	4,327
	Issued	—	—		—	—
	Exercised	—	—		—	—
	Expired	—	—		—	—
	Outstanding at March 31, 2014:	7,333	$	12	4	$	4,327

Commitments_Tables

Commitments (Tables)	3 Months Ended
	Mar. 31, 2014
Commitments	'
Schedule of future minimum payments for operating leases and other commitments, primarily programming	'
	Future minimum payments for these commitments and other commitments, are as follows (amounts in thousands):

	Year Ending	Operating		Other
	December 31,	Lease		Commitments		Total
	Remainder of 2014	$	210	$	5,258	$	5,468
	2015	65		2,771		2,836
	2016	7		1,704		1,711
	2017	—		269		269
	2018 and thereafter	—		6		6
	Total	$	282	$	10,008	$	10,290

Nature_of_Business_Details

Nature of Business (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Dec. 31, 2013
	item	Mar. 31, 2013	Class A common stock	Class A common stock	Class B common stock	Class B common stock
Nature of Business	'	'	'	'	'	'
Number of operating segments	1	'	'	'	'	'
Numerator for earnings (loss) per common share calculation:	'	'	'	'	'	'
Net income (loss)	$248	($525)	'	'	'	'
Denominator for earnings (loss) per common share calculation:	'	'	'	'	'	'
Weighted-average common shares, basic	42,172,000	1,000	'	'	'	'
Effect of dilutive securities:	'	'	'	'	'	'
Stock options and restricted stock	437,000	'	'	'	'	'
Weighted-average common shares, diluted	42,609,000	1,000	'	'	'	'
Shares excluded from the computation of diluted income (loss) per common share	8,200,000	'	'	'	'	'
Par value of common stock (in dollars per share)	'	'	$0.00	$0.00	$0.00	$0.00

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Nov. 30, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Apr. 09, 2013

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

MVS

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

James M. McNamara

Entity owned by James M. McNamara

IMA

Pantelion

Satellite and Support Services Agreement

Master license agreement

Affiliation agreement

Movie license agreement

Consulting agreements with director and entity owned director

Consulting agreement with director

Programming agreements

Services agreement

Distribution agreement

Cinelatino

item

Other assets

Cinelatino

item

Maximum

Related Party Transactions

Number of channel feeds delivered through satellite

Annual fee for services

$2,100,000

Total expense

500,000

5,557

45,698

1,895

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%

Revenue recognized from related party

1,000,000

500,000

Number of movies licensed

Due from related parties, net of allowance for doubtful accounts

1,800,000

2,100,000

Due to related parties

500,000

38,705

200,000

Number of specific movie titles to be distributed

Programming rights

$100,000

Percentage of rentals agreed to be paid

12.50%

Goodwill_and_Intangible_Assets2

Goodwill and Intangible Assets (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Amortizable intangible assets	'	'
Broadcast licenses	$41,356	$41,356
Goodwill	130,794	130,794
Intangible assets, net	32,273	'
Other intangible	700	700
Total intangible assets	205,123	206,760
Affiliate relationships	'	'
Amortizable intangible assets	'	'
Intangible assets, net	$32,273	$33,910

Goodwill_and_Intangible_Assets3

Goodwill and Intangible Assets (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Changes in other amortizable intangible assets	'	'
Amortization	($1,600)	($100)
Net balance at the end of the period	32,273	'
Aggregate amortization expense of amortizable intangible assets	-1,600	-100
Future estimated amortization expense	'	'
Remainder of 2014	4,909	'
2015	6,547	'
2016	6,547	'
2017	6,374	'
2018	6,317	'
2019 and thereafter	1,579	'
Total	32,273	'
Maximum	'	'
Changes in other amortizable intangible assets	'	'
Amortization period	'10 years	'
Minimum	'	'
Changes in other amortizable intangible assets	'	'
Amortization period	'6 years	'
Affiliate relationships	'	'
Changes in other amortizable intangible assets	'	'
Balance at the beginning of the period	33,910	'
Amortization	-1,637	'
Net balance at the end of the period	32,273	'
Aggregate amortization expense of amortizable intangible assets	-1,637	'
Future estimated amortization expense	'	'
Total	$32,273	'
Affiliate relationships \| Weighted average	'	'
Changes in other amortizable intangible assets	'	'
Remaining amortization period	'5 years	'

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
Income Taxes (Details) (USD $)	Mar. 31, 2014	Mar. 31, 2013
Income Taxes	'	'
Income tax expense (benefit)	$492,000	($363,000)
Actual income tax rate (as a percent)	38.80%	41.40%
Statutory federal income tax rate (as a percent)	35.00%	34.00%
Foreign withholding tax included in current tax expense	$200,000	$0

LongTerm_Debt_Details

Long-Term Debt (Details) (USD $)	0 Months Ended	3 Months Ended
Long-Term Debt (Details) (USD $)	Jul. 30, 2013	Mar. 31, 2014	Dec. 31, 2013
Long-term debt	'	'	'
Less: current portion	'	($1,750,000)	($1,750,000)
Long-term debt less current portion	'	170,358,000	170,731,000
Maturities of long-term debt	'	'	'
Remainder of 2014	'	1,313,000	'
2015	'	1,750,000	'
2016	'	1,750,000	'
2017	'	1,750,000	'
2018 and thereafter	'	167,125,000	'
Total maturities	'	173,688,000	'
Term Loan Facility	'	'	'
Long-term debt	'	'	'
Long-term debt	'	172,108,000	172,481,000
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%	'	'
Effective interest rate (as a percent)	6.25%	'	'
OID (as a percent)	1.00%	'	'
OID	1,600,000	'	'
Accumulated amortization of original issue discount	'	200,000	'
Net debt issue costs	'	3,100,000	'
Accumulated amortization	'	$300,000	'
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%	'

Stockholders_Equity_Details

Stockholder's Equity (Details) (USD $)

3 Months Ended

12 Months Ended

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Class A Common Stock

Stock Options

Restricted Stock

Time-based restricted stock awards and option awards

Event-based restricted stock awards and option awards

Event-based option

Event-based restricted stock

Class A Common Stock

item

Class A Common Stock

Minimum

item

Equity Incentive Plans

Shares authorized for issuance

4,000,000

Granted (in shares)

1,200,000

Granted (in shares)

1,700,000

Shares available for issuance

1,100,000

Number of equal annual installments for vesting of awards

Closing price per share to be attained for vesting of awards to begin (in dollars per share)

$15

Number of trading days on which the closing price per share should attain the specified price per share for vesting of awards to begin

Stock-Based Compensation

Stock-based compensation expense (in dollars)

$1,500,000

Unrecognized compensation cost related to non-vested stock options (in dollars)

4,300,000

Unrecognized compensation cost related to non-vested restricted stock (in dollars)

5,600,000

Weighted-average periods over which unrecognized compensation cost recognized

'3 years 2 months 12 days

'2 years 1 month 6 days

Number of shares

Outstanding at the beginning of the period (in shares)

1,730,000

Outstanding at the end of the period (in shares)

1,730,000

Vested at the end of the period (in shares)

275,000

Exercisable at the end of the period (in shares)

275,000

Weighted-average exercise price

Outstanding at the beginning of the period (in dollars per share)

$11.20

Outstanding at the end of the period (in dollars per share)

$11.20

Vested at the end of the period (in dollars per share)

$10.20

Exercisable at the end of the period (in dollars per share)

$10.20

Weighted-average remaining contractual term

Outstanding at the beginning of the period

'9 years 1 month 6 days

'9 years 3 months 18 days

Outstanding at the end of the period

'9 years 1 month 6 days

'9 years 3 months 18 days

Vested at the end of the period

'9 years

Exercisable at the end of the period

'9 years

Aggregate intrinsic value

Outstanding at the beginning of the period (in dollars)

2,403,000

Outstanding at the end of the period (in dollars)

2,403,000

Vested at the end of the period (in dollars)

657,000

Exercisable at the end of the period (in dollars)

$657,000

Unvested options

300,000

200,000

Number of shares

Outstanding at the beginning of the period (in shares)

945,000

Outstanding at the end of the period (in shares)

945,000

Weighted-average grant date fair value

Outstanding at the beginning of the period (in dollars per share)

$10.18

Outstanding at the end of the period (in dollars per share)

$10.18

Stockholders_Equity_Details_2

Stockholder's Equity (Details 2) (USD $)	3 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
	D	Dec. 31, 2013
Warrants	'	'
Exercise price of warrants per half share	$6	'
Minimum number of warrants exercisable by holder (in shares)	2	'
Exercise price of share (in dollars per share)	$12	'
Issued (in shares)	'	14,700,000
Outstanding (in shares)	7,333,000	7,333,000
Warrants exercisable into number of shares	50,000	'
Number of warrants that may be called for redemption (in shares)	10,000,000	'
Number of trading days through which last sales price of common stock is reported for warrant redemption	20	'
Period of aggregate number of trading days through which last sales price of common stock is reported for warrant redemption	'30 days	'
Number of shares	'	'
Outstanding at the beginning of the period (in shares)	7,333,000	'
Outstanding at the end of the period (in shares)	7,333,000	7,333,000
Weighted-average exercise price	'	'
Outstanding at the beginning of the period (in dollars per share)	$12	'
Outstanding at the end of the period (in dollars per share)	$12	$12
Weighted-average remaining contractual term	'	'
Outstanding at the beginning of the period	'4 years	'4 years 3 months 18 days
Outstanding at the end of the period	'4 years	'4 years 3 months 18 days
Aggregate intrinsic value	'	'
Outstanding at the beginning of the period (in dollars)	$4,327	'
Outstanding at the end of the period (in dollars)	4,327	4,327
Total exercise proceeds	$600	'
Class A Common Stock	'	'
Warrants	'	'
Number of shares entitles to warrant holders (as a percent)	0.5	'
Warrants exercisable into number of shares	'	7,300,000
Trigger price of stock in order to provide for redemption of warrants at option of the Company (in dollars per share)	$18	'

Commitments_Details

Commitments (Details) (USD $)	3 Months Ended
Commitments (Details) (USD $)	Mar. 31, 2014	Mar. 31, 2013
Commitments	'	'
Rental expense	$100,000	$100,000
Future minimum payments for operating leases	'	'
Remainder of 2014	210,000	'
2015	65,000	'
2016	7,000	'
Total	282,000	'
Future minimum payments for other commitments	'	'
Remainder of 2014	5,258,000	'
2015	2,771,000	'
2016	1,704,000	'
2017	269,000	'
2018 and thereafter	6,000	'
Total	10,008,000	'
Future minimum payments for operating leases and other commitments	'	'
Remainder of 2014	5,468,000	'
2015	2,836,000	'
2016	1,711,000	'
2017	269,000	'
2018 and thereafter	6,000	'
Total	$10,290,000	'

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent event, Media World, USD $)	0 Months Ended
In Millions, unless otherwise specified	Apr. 01, 2014
	item
Subsequent event \| Media World	'
Subsequent events	'
Number of Spanish-language cable television networks whose assets are acquired	3
Assets acquired in cash	$101.90