Hogan Lovells Advises News Corporation on Divestiture of MySpace
30 June 2011
NEW YORK, 30 June 2011 – Hogan Lovells advised long-time client News Corporation on its sale of online social networking company MySpace to Specific Media, a digital media company. As part of the transaction News Corporation will retain a minority equity stake in Specific Media.
Hogan Lovells lawyers advised on all aspects of the transaction for News Corporation, including M&A, tax, employment, intellectual property, and privacy.
News Corporation is a diversified global media company with operations in six industry segments: cable network programming; filmed entertainment; television; direct broadcast satellite television; publishing; and other.
MySpace, Inc. is a leading social entertainment destination connecting people through music, celebrities, TV, movies, and games.
The Hogan Lovells team advising News Corporation was led by New York M&A partner Alex Johnson with corporate / M&A assistance from partner Maureen Hanlon and associates Derek Meilman, Andrew Felton (all New York), and Alessandra Love Simons (San Francisco); tax advice was provided by partner Philip Altman and associate Richard Basuk (both New York); IP advice was provided by partner Audrey Haroz Reed and associate Tarah Grant (both Northern Virginia); employment counsel was provided by partners Joseph Rackman (New York) and Carin Carithers, along with associate Ashley Hedge (both Washington, D.C.); and privacy counsel was provided by partner Lynda Marshall (Washington, D.C.).