Global law firm DLA Piper has advised media giant Discovery Inc. on its agreement to purchase MediaWorks’ TV business, comprising of: free-to-air channels, Three, Bravo, Three+1, Bravo+1, The Edge TV and The Breeze TV; streaming service ThreeNow; and multi-platform news and current affairs service Newshub.
Discovery, Inc. is the global leader in real life entertainment and is known in New Zealand for its pay TV channels Discovery Channel, TLC, Animal Planet, Food Network, Living and Discovery Turbo and free-to-air channels HGTV and Choice TV.
DLA Piper’s team was led by Auckland-based corporate partner Reuben Woods and senior associate Sam Wilson. IPT partner Nick Valentine advised on the media and transitional services aspects of the deal and competition partner Alicia Murray gave regulatory advice.
Reuben Woods said, “Discovery is a long-standing and significant client of the global firm and we are delighted to have assisted Discovery on what will be its most significant free-to-air investment in the New Zealand market to date following completion”.
The transaction is expected to be completed by the end of the year.
