Olswang‘s Mark Devereux is the senior partner involved in broadcast company Shine Entertainment’s launch and strategic businessplan. 3i’s investment in the company is the latest in a sequence of deals that Shine has instructed Olswang on. According to Devereux, this deal represents a real triumph for all involved because it is a difficult market in which to raise finance for media projects. He says this deal succeeded because Shine has strong management and a good businessplan.
The good management Devereux refers to is Elisabeth Murdoch, daughter of media tycoon Rupert Murdoch, and Lord Alli, former head of Carlton Productions. Last year, Elisabeth Murdoch left BSkyB to co-found Shine. BSkyB owns 5 per cent of the new company.
Mark Devereux’s team at Olswang was responsible for negotiating BSkyB’s involvement in Shine. Shine is now developing a rights management arm and Olswang will be the legal adviser overseeing this project.