Hogan Lovells Advises Chellomedia on MGM Networks Acquisition
03 August 2012
LONDON, 3 August 2012 - Hogan Lovells advised Chellomedia, the international content division of Liberty Global, Inc., on the acquisition of MGM Networks Inc (MGM Networks) from Metro-Goldwyn-Mayer Studios Inc. (MGM). The deal was announced on 1 August 2012.
Chellomedia is a leading producer and distributor of 56 television channels, including 19 joint ventures. It has acquired MGM Networks’ channels in Spain, Turkey, Israel, Benelux and Poland, India and South East Asia, in addition to the pan-EMEA Channel and its associated feeds. MGM will retain its network businesses in the U.S., Canada, UK and Germany, and its joint venture interests in Brazil and Australia.
Chellomedia also acquired the remaining 50% of MGM Latin America, which Liberty Global and MGM have operated as a joint venture since 1998, in addition to the balance of its joint venture in Central Europe.
Chellomedia will continue to operate the channels under the MGM brand and has entered into a long term programming licensing agreement with MGM to allow the channels to continue to be programmed from MGM's programming library.
The Hogan Lovells team advising Chellomedia was led by Co-Head of private equity Alan Greenough and Corporate Of Counsel Keith Woodhouse supported by Monika Przygoda (corporate associate, London), John Booher (corporate partner, Paolo Alto), Lorig Kalaydjian (corporate associate, Los Angeles), Jason Kaplan (tax partner, New York) and Richard Basuk (tax associate, New York).
Commenting on the transaction, Alan said:
"We are pleased to have acted on this transaction which will enhance Chellomedia's global offering as it increases its channel portfolio to 66 channels, of which 50 are 100% owned and 16 are joint ventures."