Leading law firm, MinterEllisonRuddWatts advised MediaWorks on its sale agreement to sell MediaWorks TV to Discovery Inc (Discovery), a global leader of ‘real-life’ entertainment.MediaWorks is New Zealand’s largest independent commercial broadcaster, with MediaWorks TV comprising free-to-air channels Three and Bravo, streaming service ThreeNow, and multi-platform news and current affairs service Newshub, as well as the further channels Three+1, Bravo+1, The Edge TV and The Breeze TV.
The MinterEllisonRuddWatts deal team, led by partners Mark Forman and Tom Maasland included partners Kate Lane, Gillian Service and Andrew Monteith, and Senior Associate James Marriner.Upon reaching agreement, Corporate Partner Mark Forman said: “This complex and ground breaking deal is a fantastic result for MediaWorks and Discovery, and we are delighted to continue the firm’s longstanding relationship with MediaWorks.”
“This deal will help shape how media is consumed in New Zealand, and importantly it safeguards free to air options for New Zealanders seeking excellent independent entertainment, news and media. An independent news media continues to play a vital role in New Zealand society”.
Following completion of the sale, MediaWorks will focus on the growth and success of its radio and out-of-home media businesses with more than 2.4 million weekly listeners and 1,700 advertising panels.
The sale agreement is subject to several pre-completion approvals and is expected to complete in late 2020. MinterEllisonRuddWatts worked alongside UBS and KPMG on the transaction.
- Placing Her ‘Neck On The Line’ In Samoa Didn’t Prevent Recognition In Samoa For Tiana EpatiA run-in with Samoa Prime Minister Tuilaepa Dr. Sailele Malielegaoi over a plan to overhaul the country’s legal system […] More
- Legal Disrupter Arrives In New Zealand to ‘Democratise’ Legal AccessAustralian-based ‘legal disrupter’ LegalVision has opened its doors in New Zealand with a plan to do to the local […] More
- Jailhouse Lawyer Taylor To Take ‘Gangland’ Book Censorship Case To CourtArthur Taylor, the now somewhat celebrated “jailhouse lawyer” is making a return to court by suing his former landlords, […] More
- The BigLaw TikTok Lawyer Who Has Become A Major Legal Jobs InfluencerA pandemic-ruined birthday lead to lawyer Cecillia Xie deciding that she would make a video that went viral and […] More
- Formidable British QC Agrees To Prosecute Hong Kong ProtestersDavid Perry QC is regarded as one of Britain’s most formidable Queens’ Counsel, handling a diverse range of clients, […] More
- Former EY Law Employment Lawyer Sets Up FirmEmployment law specialist Shelley Kopu, who once led EY Law’s employment law team, has commenced practice as an employment lawyer at Shelley […] More
- Russian Billionaire Takes US Legal Action For LawFuel EmailsThe Russian billionaire vendor of the mansion recently sold to Meghan Markle and Prince Harry has sought to obtain […] More