11 November – LAWFUEL – The Law News Network – Lions Gate Entertainment, Inc has acquired UK film distributor Redbus Film Distribution Limited, in a combined cash and stock transaction valued at US$35 million.
Olswang advised Los Angeles based Lions Gate, the premier independent producer and distributor of motion pictures, home entertainment, family entertainment, television programming and video-on-demand content.
The acquisition of Redbus gives Lions Gate a library of rights to over 130 films, including “Bend It Like Beckham” and “Jeepers Creepers”, adding to its already impressive 8000 titles. Additionally, it provides the company with access to the entrepreneurial senior management at Redbus and the ability to self-distribute its motion pictures in the UK. For Lions Gate, this is a strategic move accelerating the company’s growth and enhancing margins in its core businesses.
Commenting on the deal, Tony Leifer, head of corporate at Olswang, said, “Working with international media clients is always a pleasure. This transaction is another example of how our teams, with expert industry knowledge and experience, can help our clients achieve their business objectives.”
Wayne Levin, Lions Gate General Counsel, said, “Olswang’s ability to successfully navigate the differences between US and UK legal custom and practice was the key to completing a complex transaction in a relatively short amount of time without sacrificing quality.”
As described in this year’s The Legal 500, “Olswang is home to a quality corporate outfit” and the firm’s first-class film team has once again been identified as the best UK practice standing alone leading the market in band one in Chambers & Partners 2005 – 2006.
Tony Leifer led the Olswang cross discipline team with assistance on corporate matters principally from David Bunker and Andrew Stott; partner Jacqueline Hurt led the film side with assistance principally from Simona Milza.