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Lakshmikumaran and Sridharan provided legal counsel to Divo TV Private Limited (‘Divo TV’) and its promoters, assisting them in reaching an agreement to sell a stake to Warner Music India Private Limited (‘Warner Music).
The agreement also included a primary subscription by Warner Music, as a result of which Warner Music will become Divo TV’s majority shareholder.
On deal structuring, documentation, and negotiations, we assisted and advised Divo TV and the promoters.
As per a press note, Divo provides brands, celebrities, and movies with online video, music distribution, publishing, and digital and influencer marketing solutions.
It has collaborated with record labels, artists, and musicians to help distribute and monetize content across digital platforms, radio stations, and television stations.
Divo released over 30,000 songs last year, with a strong presence in the Tamil market and a fair share of the Kannada, Malayalam, and Telegu music industries.
The LKS Corporate and M&A team was led and supervised by Sudish Sharma (Executive Partner) and included Noorul Hassan (Partner) and Kumar Panda (Senior Associate).
