Subsequent Events

9 Months Ended

Sep. 30, 2016

Subsequent Events

Subsequent Events

Note 9. Subsequent Events

On October 21, 2016, our controlling stockholder, IMP closed a transaction that provided liquidity options to its limited partners in respect of shares of our Class B common stock and warrants to purchase Class A common stock held by IMP and its affiliates (the “IMP Liquidity Transaction”).  Upon the consummation of the IMP Liquidity Transaction, 9,226,420 shares of our Class B common stock were converted into an equal number of shares of our Class A common stock (including 419,383 shares subject to forfeiture if the market price of shares of our Class A common stock does not equal or exceed $15.00 per share for any 20 trading days within at least one 30-trading day period prior to April 4, 2018).  Upon the consummation of the IMP Liquidity Transaction, we had 21,607,230 shares of our Class A common stock (including 544,383 shares of our Class A common stock subject to forfeiture described above) and 20,800,998 shares of our Class B common stock (including 1,080,617 shares of our Class B common stock subject to forfeiture described above) issued and outstanding.

On November 3, 2016, we announced our partnership in a new joint venture with LionsGate to launch a Spanish – language subscription video on demand (SVOD) movie service. The service plans to launch later in fiscal year ending December 31, 2017.