Kirkland & Ellis advised Media Rights Capital (“MRC”) in a transaction whereby MRC and Eldridge have separated their combined media assets. MRC, led by founders and co-CEOs Modi Wiczyk and Asif Satchu, will retain and control its existing operations as the leading independent studio, with three divisions: Film, Television and Non-Fiction. MRC also will retain its stakes in Civic Center Media and T-Street. Eldridge will retain dick clark productions and investments in South by Southwest, A24, Fulwell 73, Sugar 23 and Luminate, as well as the Penske Media Corporation, which includes The Hollywood Reporter, Variety, Billboard, Rolling Stone, Vibe, Music Business Worldwide, Life is Beautiful and the investment in South by Southwest. Eldridge will also remain as a significant minority shareholder in MRC.
The Kirkland team was led by corporate partners Damon Fisher, Luke Guerra and Dov Kogen and included associates Peter Liskanich and Kenneth Han; debt finance partners David Nemecek and James Dickson and associates Whitney Greer and Meggie Willinger; tax partners Sara Zablotney and Anthony Sexton and associate Rhonda Dinkins; executive compensation partner Jack Stratton and associate Andrew Hedman; and antitrust partner Thomas Wilson and mergers and acquisitions clearance director Kurt Wunderlich.