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Sonnenschein Team Leaves to Found MSK NY Office
L.A.-based Mitchell Silberberg & Knupp, a 125-lawyer firm with a strong entertainment practice, is opening in New York City. The move marks the firm's second office outside its Southern California base, after Washington, DC. Even though New York is a competitive market for lateral recruiting, the new office's managing partner, Jane Stevens, says her firm can be a player. 'The kind of work we do is sexy and exciting, so that itself performs a sales function.'
Some of the 'sexiness' comes from a four-attorney team poached from Sonnenschein Nath & Rosenthal. The team ' which has been together for many years ' represents the Beatles, Apple Records, the Estate of George Harrison, Jay-Z and Ludacris. Its lawyers brought along the majority of their clients, leaving behind only those that required practices their new firm doesn't have.
The Sonnenshein quartet, all entering Mitchell Silberberg as partners, includes Stevens as well as litigators Christine Lepera, (a member of the Board of Editors of Entertainment Law & Finance), Paul LiCalsi and Howard Weller. Stevens says they were attracted to Mitchell Silberberg's reputation in the entertainment arena. 'We have litigated in the entertainment, IP and media areas that the firm is so well known for,' she says. 'For us, it was an incredibly exciting opportunity to be associated with them, and build a New York office from the ground up.'
Mitchell Silberberg is also adding partners Lauren Wachtler and Paul Montclare, the founding partners of Manhattan business-litigation and real estate boutique Montclare & Wachtler. Mitchell Silberberg had worked with the firm previously as its local counsel in New York.
Mitchell Silberberg is planning to add a group of associates to help the partners in New York, said Thomas Lambert, the firm's managing partner. He said he hopes to increase the office to 20 attorneys within the year. California firms with strong entertainment bases and New York offices will be the firm's main competitors there, Stevens said, pointing to firms like Loeb & Loeb and Manatt, Phelps & Phillips.
The strategy in New York is to work with Mitchell Silberberg's existing clients ' clients who have asked the firm to move to New York ' as well as build with the new hires' additional clients, Lambert said. 'We expect to compete with a number of firms there, but we have unique capabilities. Our lawyers have an in-depth knowledge of the motion pictures and music side of law.'
TV-Company Deal Highlights U.S. Risk Allocation
O'Melveny & Myers lawyers representing Shine Ltd. ' the London-based independent television-production company set up by Rupert Murdoch's daughter, Elisabeth Murdoch ' recently played a bit of the teacher for the buyer of Los Angeles-based Reveille, the largest independent television producer in the United States. The deal reportedly was worth between $125 million and $200 million.
'This was Shine's first acquisition in the U.S. and our first engagement with them,' said O'Melveny counsel Sean Monroe. 'We played perhaps a more expansive role in educating Shine in market practice,' and what terms a U.S. seller expected. Added partner Steven Grossman: 'The allocation of risk in a U.K. deal is more buyer-friendly than a typical U.S. private company acquisition. Here, the seller has more leverage in allocating risk.' Grossman says that's because the U.S. market has been more shaped by private equity players, who often are able to negotiate better terms than a standard buyer. 'That has impacted the U.S. market in a way that hasn't arrived in the U.K. yet.'
Monroe said there was 'a good deal of negotiation' over where the risk line should be drawn in this transaction. It helped, he said, that Elisabeth Murdoch and Reveille owner Ben Silverman had longstanding ties. 'The personal relationship between Liz Murdoch and Ben Silverman provided a crucial structure and momentum for the deal,' Monroe said. 'Ben had previously acted as Liz's agent when he was at the William Morris agency ' It was useful and efficient to have a direct and personal line of communication between the principals when the issues got sticky.'
Reveille, set up in 2003 by Silverman, now an NBC entertainment co-chairman, is known for shows like 'Ugly Betty,' the American version of 'The Office' and 'The Biggest Loser.' Shine, established in 2000, has been in expansion mode, gobbling up three U.K. companies in 2006.
O'Melveny landed the deal through ties to Olswang, a U.K. law firm and Shine's regular outside counsel, Monroe said. The O'Melveny team also included: Century City partners Stephen Scharf, Matthew Erramouspe and Robert Blashek, counsel Paul Iannicelli and associates Jason Skolnik and Heather Weisser; Los Angeles partner Luc Moritz; and Newport Beach partner Wayne Jacobsen. Olswang also represented Shine.
Silverman was represented by Los Angeles Munger, Tolles & Olson partners J. Martin Willhite and Robert Adler as well as partner Craig Jacobson from Beverly Hills-based Hansen, Jacobsen, Teller, Hoberman, Newman, Warren & Richman.
Sonnenschein Team Leaves to Found MSK NY Office
L.A.-based
Some of the 'sexiness' comes from a four-attorney team poached from
The Sonnenshein quartet, all entering
The strategy in
TV-Company Deal Highlights U.S. Risk Allocation
'This was Shine's first acquisition in the U.S. and our first engagement with them,' said O'Melveny counsel Sean Monroe. 'We played perhaps a more expansive role in educating Shine in market practice,' and what terms a U.S. seller expected. Added partner Steven Grossman: 'The allocation of risk in a U.K. deal is more buyer-friendly than a typical U.S. private company acquisition. Here, the seller has more leverage in allocating risk.' Grossman says that's because the U.S. market has been more shaped by private equity players, who often are able to negotiate better terms than a standard buyer. 'That has impacted the U.S. market in a way that hasn't arrived in the U.K. yet.'
Monroe said there was 'a good deal of negotiation' over where the risk line should be drawn in this transaction. It helped, he said, that Elisabeth Murdoch and Reveille owner Ben Silverman had longstanding ties. 'The personal relationship between Liz Murdoch and Ben Silverman provided a crucial structure and momentum for the deal,' Monroe said. 'Ben had previously acted as Liz's agent when he was at the William Morris agency ' It was useful and efficient to have a direct and personal line of communication between the principals when the issues got sticky.'
Reveille, set up in 2003 by Silverman, now an NBC entertainment co-chairman, is known for shows like 'Ugly Betty,' the American version of 'The Office' and 'The Biggest Loser.' Shine, established in 2000, has been in expansion mode, gobbling up three U.K. companies in 2006.
O'Melveny landed the deal through ties to
Silverman was represented by Los Angeles
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