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DreamWorks Animation Sells 24.5% Equity Stake of AwesomenessTV To Verizon

April 06, 2016

Los Angeles, CA-- Paul Hastings LLP, a leading global law firm, announced today that the firm represented entertainment company DreamWorks Animation in selling a 24.5% equity stake of AwesomenessTV, a leading multi-platform media company, to Verizon Communications, a telecommunications company, and a related agreement to create a first-of-its-kind premium short-form mobile video service featuring leading creative talent.

AwesomenessTV will be valued at approximately $650 million upon the close of this transaction. The deal represents one of the first instances of a major content distributor making a multi-year commitment to license and distribute short-form, high-quality scripted and non-scripted entertainment content intended primarily for viewing on mobile devices.
 
Corporate partner David Hernand and of counsel Ron Ben-Yehuda led the Paul Hastings team, which also included partners Scott Hataway, Stephen HarrisPierre Kirch, and Alexander Lee; and associates Stan KalminskyOlga Marshall, and Amy Lawrence.

Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies