Representative Deals

Significant representative matters include representing:

  • Comerica Bank. In ongoing film production lending for more than 25 years.
  • East West Bank. In ongoing film production lending including credit facilities to Bona Film Group for the latter’s $235 million investment in a slate of Hollywood movies from 20th Century Fox; Huayi Brothersin connection with STX; Hunnan in connection with Lionsgate; Fundamental film in connection with “Valerian”.
  • JPMorgan Chase. In ongoing film production lending.
  • Media Rights Capital (MRC). In current $350 million three-year revolving credit facility with a syndicate of banks led by JPMorgan Chase. The M&A Advisor awarded Akin Gump the “Media, Entertainment or Telecom Deal of the Year” award for its advisory role on MRC’s original 2008 credit facility.
  • Bank of America. In ongoing film production lending.
  • Dune Capital Management. In the buyout of much of Elliott Management’s stake in Relativity Media. Steven Mnuchin of Dune was appointed Co-Chairman of Relativity as part of the transaction.
  • Dune Capital Management. In a complex film production venture with Twentieth Century Fox Film Corp. The Dune Capital Management transaction involved the creation and sponsorship of Dune Entertainment LLC, which was funded with an equity investment from Dune Capital and a senior credit facility provided by Société Générale and Dresdner Bank AG, to complete the $600 million investment in the production and distribution of 60 Fox films. Akin Gump was approached to provide legal advice in one of the first deals of this type, which illustrated an innovative deal structure for financing in the entertainment industry. The M&A Advisor awarded Akin Gump the “Financial Services Deal of the Year” award for the firm’s leading role in advising Dune Capital Management in the first transaction.
  • Goldman Sachs and Assured Guaranty. In the restructuring of a major independent distributor.
  • In various partnerships with leading Hollywood Producers and other third parties, including Hyde Park, Parkes MacDonald, National Geographic and Participant Media.
  • Playboy Enterprises. In a $150 million refinancing of the debt from its 2011 leveraged buyout. This was a structured transaction whereby Playboy securitized their trademark portfolio as part of a larger strategy to reposition into a lifestyle brand with a lean, efficient operating structure, and significantly enhances the company’s flexibility to execute on its licensing and media growth strategies.
  • Rizvi Traverse in the $600 million acquisition of a majority stake in SESAC, a music performance-rights company. Founded in 1930, SESAC is a performing rights organization representing some of the most iconic artists in the music, film and television industries. It is regarded as the technological leader among performing rights organizations in the U.S., representing music icons such as Bob Dylan, Neil Diamond, and Robert Johnson. Akin Gump subsequently represented Rizvi Traverse in its announced sale of SESAC to Blackstone.
  • Yunnan Film Group. In the production of several independently financed motion pictures.
  • The Walt Disney Company. Represented The Walt Disney Company in its acquisition of satellite capacity through the year 2018; Represented Walt Disney in three investment funds established to invest in entertainment and media properties with strategic importance.
  • Trinity Opportunities Limited. Represented Trinity Opportunities in its $275 million funding to Village Roadshow Entertainment Group in a six-year mezzanine debt and equity arrangement. This was the first time a transaction of this type has been structured and wholly executed within Asia.
  • Union Bank. Represent Union Bank in ongoing film production lending for more than a decade.
  • Ratpac-Dune Entertainment. Represented this financing vehicle in connection with its multi-year slate co-financing agreement with Warner Bros. Pictures and its secured revolving credit facility, which provides financing for as many as 75 Warner Bros. Pictures titles.
  • RatPac Entertainment and Consolidated Film Holdings Limited. In a credit facility with Bank of America Merrill Lynch to co-finance selected films with various major studios.
  • Clear Channel Communications in connection with the:
    • $27.0 billion sale to a consortium of private equity funds led by T.H. Lee and Bain Capital
    • $23.5 billion acquisition of AMFM to become the largest owner of radio stations in the U.S.
    • $6.5 billion acquisition of Jacor Communications, Inc.
    • $4.4 billion acquisition of SFX Entertainment
    • $1.5 billion merger with Universal Outdoor Holdings
    • $250 million tender offer for Heftel Broadcasting Corporation
  • Represented the largest unsecured creditor and potential purchaser of the assets of Death Row Records.
  • Dresdner Kleinwort. Represented Dresdner Kleinwort in a $300 million slate financing arrangement for Spyglass Entertainment and a $300 million slate financing arrangement for Paramount Pictures.
  • Falcon Capital, Blue Mountain Capital and White Oak Capital. As Term A and Term B lenders in a recapitalization of Relativity Media Group.
  • Forstmann Little & Co. In its sale of its ownerships stake in IMG Worldwide Holdings, Inc. to Silver Lake Partners and William Morris Endeavor Entertainment, LLC.
  • One West Bank. Represented One West Bank in ongoing film production lending including a series of films for Relativity Media Limited and in connection with “Valerian” for EuropaCorp.
  • Pegasus Capital Advisers. In its acquisition of a majority interest in Spirit Music Group.
  • SunTrust Bank. Represent SunTrust Bank in ongoing film production lending for more than five years and in connection with Fortress Investments’ purchase of Revolution Studios from Joe Roth. SunTrust was the lead bank in the deal.
  • Universal Studios. Represented Universal Studios in the development and construction of a retail/entertainment complex adjacent to its theme park in Burbank, California, known as Universal City Walk.