Willkie represents Time Warner and Turner Broadcasting in acquisition of live streaming market leader.
On August 14, Willkie clients Time Warner and Turner Broadcasting, Inc. announced that Turner Broadcasting had acquired a majority stake in iStreamPlanet.
iStreamPlanet is a market leader in large-scale, live event streaming, TV Everywhere Network simulcasts and over-the-top (OTT) multiple platform solutions. OTT refers to the delivery of audio, video and other media over the Internet.
Turner Broadcasting System, Inc., a Time Warner company, will leverage iStreamPlanet’s technology to deliver its OTT programming, shift its core technology infrastructure to the cloud and develop new products and services.
Under the terms of the deal, iStreamPlanet will remain a standalone entity and continue to conduct business and broker independent deals with existing and new third-party clients, while working closely with Turner Broadcasting to explore new business opportunities.
The Willkie deal team included partners William Gump, Thomas Mark, Jordan Messinger, Christopher Peters and Eugene Chang, and associates Kapiljeet Dargan, Delano Ladd, Michael Casas, Halie Klein, Helen Skinner and Amir Ghavi.