Lovells’ Prof-Media relationship blooms

Lovells has cemented its relationship with Russian media company Prof-Media, advising on its purchase of Wayfarer Media, the holding company of MTV Russia and VH1 Russia.

The deal saw Prof-Media, advised by an all-female team led by Lovells’ Moscow managing partner Oxana Balayan, acquire 100 per cent of Wayfarer’s shares from MTV Networks International and private equity house Russia Partners. The former, which held the majority share, was advised on the transaction by Linklaters. Russia Partners received advice from LeBoeuf Lamb Greene & MacRae.

This is the third time Lovells has advised Prof-Media. It first acted for the company when it purchased television network TV3 last year. The firm subsequently advised the company when it raised funds through issuing debt.

Lovells did not have to pitch for the current deal – Prof-Media instructed it based on their growing relationship.

“We also have a strong media part to our practice and few law firms offer strong corporate M&A with strong media expertise,” said Balayan.

Balayan was assisted by London partner Stephanie Keen, Moscow consultants Maria Baeva and Natalia Gulyaeva, London associate Amanda Onions and New York associate Kerry Malloy.