Los Angeles, CA--
Paul Hastings LLP, a leading global law firm, announced today that the firm represented entertainment company DreamWorks Animation SKG in selling a 25% stake of AwesomenessTV, a leading multi-platform media company serving the global teen community, to Hearst Corporation, a diversified media and information company.
The purchase price of the take was $81.25 million. DreamWorks and Hearst plan to work together to support AwesomenessTV’s efforts to enter into new content channels, broaden its audience and expand its geographic reach.
The deal is part of a trend of traditional media companies investing in upstart “new television” and “multiplatform” entertainment companies.
M&A partner David Hernand
led the Paul Hastings team, which also included M&A partner Beni Surpin
, Employment partner Stephen Harris
, Tax partner Alexander Lee
, Corporate partner Jane Song
and associates Stan Kalminsky
, Olga Marshall
, Amy Lawrence
, and Ryan Enchelmayer
Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.