Weil, Cleary, Baker Botts star in US media merger
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A trio of us firms have scored lead roles on DirecTV’s merger with Liberty Media Corporation.
Weil Gotshal & Manges M&A partners Fred Green and Michael Lubowitz led a team advising DirecTV on the merger, with Baker Botts on the other side.
Baker Botts partners Buzz McGrath, Renee Wilm and Jonathan Gordon advised longstanding client Liberty.
McGrath said: “The most complicated aspect was the tax issues. The potential spin off of Liberty Entertainment was also challenging. We had to consider this deal at the same time as the merger.”
Baker Botts advised on Liberty Media’s 2006 recapitalisation of its capital structure, as well as the company’s 2003 acquisition of a 57 per cent stake in Comcast Corporation’s equity stake TV channel QVC.
Cleary Gottlieb Steen & Hamilton partner Ethan Klingsberg advised underwriter Goldman Sachs on the deal.
