Khaitan & Co advised Warner Music India in buying a majority stake in digital giant Divo TV, which tapped Lakshmikumaran and Sridharan (L&S) as counsel, in a deal touted as one of the largest media acquisitions to date.
Partners Bhavik Narsana, Tanu Banerjee (specialising in technology, media and telecoms), and Nishad Nadkarni led the Khaitan team with assistance from a group of associates.
Executive partner Sudish Sharma, partner Noorul Hassan and Kumar Panda led the L&S corporate and M&A team in advising Divo TV and its promoters.
Divo TV is south India’s largest digital media and music conglomerate, offering subscribers online video, music distribution, publishing, digital and influencer marketing solutions for brands, celebrities, and movies.
It has been expanding its presence by working with labels, artists and musicians to monetise their content across different platforms.
The company released more than 30,000 songs last year and has a strong presence in the Tamil, Kannada, Malayalam and Telugu music industries.