{"id":284915,"date":"2023-02-23T18:30:23","date_gmt":"2023-02-23T13:00:23","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=284915"},"modified":"2023-02-24T10:28:07","modified_gmt":"2023-02-24T04:58:07","slug":"lakshmikumaran-and-sridharan-advised-divo-tv-private-limited-and-the-promoters-to-sign-a-deal-to-sell-stake-to-warner-music-india-private-limited","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2023\/02\/23\/lakshmikumaran-and-sridharan-advised-divo-tv-private-limited-and-the-promoters-to-sign-a-deal-to-sell-stake-to-warner-music-india-private-limited\/","title":{"rendered":"L&S advises Divo TV Private Limited and the promoters to sign a deal to sell stake to Warner Music India Private Limited"},"content":{"rendered":"
\n

Lakshmikumaran and Sridharan acted as the legal counsel to Divo TV Private Limited (\u201cDivo TV<\/span>\u201d) and its promoters and assisted them in signing a deal to sell stake to Warner Music India Private Limited (\u201cWarner Music<\/span>\u201d). The deal also involved a primary subscription by Warner Music consequent to which Warner Music will become a majority shareholder of Divo TV. We have assisted and advised Divo TV and the promoters on deal structuring, documentation, and negotiations.<\/p>\n

Divo offers online video, music distribution, publishing, and digital and influencer marketing solutions for brands, celebrities, and movies. It has been working with labels, artists, and musicians to help distribute and monetize content across digital platforms, radio, and TV stations. With a large presence in the Tamil market, and a fair share of the Kannada, Malayalam, and Telegu music industries, Divo released more than 30,000 songs last year.<\/p>\n

The LKS Corporate and M&A team worked under the overall guidance and supervision of Mr. Sudish Sharma (Executive Partner) and comprising of Mr. Noorul Hassan (Partner) and Mr. Kumar Panda (Senior Associate).<\/p>\n

About Lakshmikumaran & Sridharan<\/p>\n

Lakshmikumaran & Sridharan (LKS) is a premier full-service Indian law firm specialising in areas such as corporate & M&A\/PE, dispute resolution, taxation, and intellectual property. The firm, through its 14 offices across India works closely on litigation and commercial law matters, advising and representing clients both in India and abroad.<\/p>\n

The firm has handled more than 30,000 litigation cases before various forums including 2,000 cases before the Supreme Court of India. Over the last 37 years, the firm has worked with over 15,500 clients which range from start-ups, and small & medium enterprises, to large Indian corporates and multinational companies.<\/p>\n

The professionals within the firm bring diverse experience to service clients across sectors such as commodities, automobile, manufacturing, healthcare, IT\/ITeS, FMCG, hospitality, real estate, petrochemicals, e-commerce, fintech, big data, renewables, cryptocurrency, gaming, and sports. The firm takes pride in the value-based, client-focused approach that combines knowledge of the law with industry experience to design bespoke legal solutions.<\/p>\n

The firm\u2019s driving principles to achieve our vision are integrity, knowledge, innovation, and collaboration.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Lakshmikumaran and Sridharan acted as the legal counsel to Divo TV Private Limited (\u201cDivo TV\u201d) and its promoters and assisted them in 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Sector Music | Media 2. Announcement Date 8 February 2023 3. Name & Address of Client Warner Music India Private Limited 4. Company, Company\u2019s Country Divo TV Private Limited, India 5. 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