Clifford Chance and Field Fisher Waterhouse (FFW) have advised on the sale of a TV-on-demand service set up to show BBC, ITV and Channel 4 programmes on the internet.
Project Kangaroo, a joint venture between the three channels, was designed to be a one-stop shop for TV content, but was hampered by competition issues.
The venture was advised by FFW, which was lead adviser since the service was first mooted in 2007.
Broadcasting company Arqiva, advised by Clifford Chance, is understood to have paid around £8m for the assets of Project Kangaroo and is set to launch
Olswang acted for longstanding client the BBC, while media boutique Wiggin acted for Channel 4. It is understood that Lovells, representing ITV, was called in to set up the LLP structure of the project.
Norton Rose provided competition advice to Project Kangaroo, which in February was blocked from launching its service by the Competition Commission.
FFW technology, media and telecoms partner David Naylor was assisted by corporate partner Nigel Taylor on the sale to Arqiva.
The firm became the project’s lead adviser through its relationship with the BBC.