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Deluxe Entertainment to Acquire Creative and Media Divisions of Ascent Media
As announced on November 24, Paul, Weiss client Deluxe Entertainment Services Group (Deluxe) has entered into a definitive agreement to purchase the creative services and media services divisions of Ascent Media Group (AMG) for an aggregate cash consideration to AMG of approximately $68 million (after the assumption of certain indebtedness).
AMG is a holding company primarily engaged in the business of providing content and creative services to the media and entertainment industries in the United States, the United Kingdom and Singapore. Deluxe, a wholly-owned subsidiary of MacAndrews & Forbes Holdings Inc., is the leading provider of a broad range of entertainment industry services and technologies to major Hollywood studios and an international client base.
The Paul, Weiss team advising Deluxe included, among others, corporate partners Angelo Bonvino, Charles H. Googe Jr., Terry E. Schimek and Robert B. Schumer, and counsel Didier Malaquin; tax partner Jeffrey B. Samuels; real estate partner Peter E. Fisch and counsel Barry Langman; employee benefits partners Robert C. Fleder and Lawrence I. Witdorchic, and counsel Maureen A. Riley; environmental counsel William J. O'Brien; and litigation partner Joseph J. Simons.