Paul Hastings, a leading global law firm, announced today that it represented Dick Clark Productions Inc (“Dick Clark Productions”), the world’s largest producer and proprietor of televised live event entertainment programming, on its agreement for the sale of Dick Clark Productions to Dalian Wanda Group (“Dalian Wanda”) for approximately US$1 billion. The transaction marks Dalian Wanda’s first move into the television business.
Dick Clark Productions was launched in 1957 by the legendary broadcaster and American Bandstand host, and produces the Golden Globes, the American Music Awards, the Billboard Music Awards, Dick Clark’s Rockin’ New Year’s Eve as well as other top award shows.
Paul Hastings’ global M&A lawyers regularly advise on complex, cross-border transactions in the technology, media, entertainment and telecoms (TMET) industries. Recent transactions include representing China Media Capital in its joint venture with Warner Brothers to establish a new flagship movie studio, and representing Beijing Shouhuan Cultural Tourism Investment Co. Ltd. in its joint venture with Universal Studios to build a US$4 billion movie- and television-based theme park in Beijing.
The Paul Hastings team was led by Corporate partner David Hernand and Corporate associate Trevor Katende, with support from Tax partner Alexander Lee, Employment partner Stephen Harris, Intellectual Property of counsel Ron Ben-Yehuda, and associates Michael Renner, Rick Jantz, Amy Lawrence and M’Alyssa Mecenas.
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