channel joint venture Hong Kong/Singapore/Tokyo: Leading law firm Clifford Chance has advised Turner Broadcasting, a unit of Time Warner Inc., as international counsel on its equal joint venture with India’s Alva Brothers to launch a general entertainment television channel in India.
A team of lawyers from the firm’s Singapore, Hong Kong and Tokyo offices advised Turner, which is a major producer of news and entertainment products around the world.
As part of the deal, Turner, which has a long-standing commitment to the fast-growing Indian market, will also acquire a minority stake in Alva Brothers’ production firm Miditech Pvt Ltd – one of India’s leading production houses – including all shares currently held by private equity firm ICICI Ventures.
The Clifford Chance team was led by senior associate Lee Taylor in Singapore, and partner Alison Lindsay, based in Hong Kong, with assistance from senior associates Tracy Whiriskey in Tokyo and Clarice Yue in Hong Kong.
“We are delighted to have assisted Turner with this strategic investment in India,” said Alison. “The transaction was negotiated and documented within a very short timeframe.”
“The complexity of the transaction was increased by a number of related party contracts entered into between the shareholders and the two joint venture companies,” explained Lee.
In the Asia Pacific region, Turner Broadcasting distributes CNN International, CNNJ (Japan), CNN Headline News, Cartoon Network, Turner Classic Movies, Pogo and Boomerang, as well as interactive news and entertainment content.