|Fried Frank represented Virgin Media in agreement to sell 50% stake in UKTV joint venture to Scripps Networks|
|August 16, 2011|
|Fried Frank represented Virgin Media Inc. in connection with its agreement to sell its 50% stake in its UKTV joint venture to Scripps Networks Interactive Inc. Scripps Networks, a leading US multi-channel television programming company, will pay total consideration of approximately £338.5m. BBC Worldwide, the commercial arm and wholly owned subsidiary of the British Broadcasting Corp. (BBC), is the other 50% stakeholder in UKTV, which operates a number of UK pay and free-to-air television channels. Completion of the transaction is contingent on regulatory approvals in the Republic of Ireland and Jersey.
The Fried Frank team was led by corporate partners Jerry Walter (London) and Bob Mollen (London) and senior corporate associate Laura Brunnen (London); and included corporate partner Richard May (London); tax partner Robert Gaut (London); and pensions and employment partner Sheena McCaffrey (London).