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Don't Miss It: Kirkland, Sidley Guide Week's Hot Deals

Kirkland is mentioned in Law360 regarding the Firm's role in MCR Entertainment's formation of two joint ventures with Penske Media.

...MCR Entertainment, guided by Kirkland, has agreed to form two joint ventures with Penske Media Corp., one focused on publishing and another focused on content, in a deal that includes well-known brands like Rolling Stone, The Hollywood Reporter, Deadline and Sportico.

Financial terms were not disclosed. Both companies will hold "significant ownership" in each JV, though the specifics were not disclosed. 

The first joint venture will be called PMRC and will house a litany of popular entertainment and music brands, such as Penske Media-owned Variety and Rolling Stone and MRC-owned Hollywood Reporter, Billboard and Vibe. Penske will lead the day-to-day operations of this joint venture.

The second joint venture will focus on producing new content using the production infrastructure and experience of MRC, while also leaning on the intellectual property owned by the companies, which includes shows like "Ozark" and "The Outsider" and live events like the "Billboard Music Awards" and "American Music Awards." MRC will manage the second joint venture.

The Kirkland & Ellis LLP team advising MRC was led by corporate partners Damon Fisher and Luke Guerra and included associates Caleb Vesey, Orlie Golan, Melody Soroudi and Tobias Oliver Rushing; tax partner Sara Zablotney and associates Tara Rhoades and Amanda Milhet; technology and intellectual property transactions partner Seth Traxler and associates Bernadette Coppola and Melissa Moreno; antitrust partners Annie Herman and Katherine Rocco and associates Jack Coles and Shahrzad Sadjad.

Other counsel information was not immediately available.

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