DLA Piper advised Warner Bros. Discovery on regrouping with ProSiebenSat.1 for Joyn
DLA Piper advises Warner Bros. Discovery on regrouping with ProSiebenSat.1 for Joyn
The companies hope to launch the new version on 1 October
DLA Piper has advised Warner Bros. Discovery on an agreement with ProSiebenSat.1 Media SE on a new cooperation model for Joyn GmbH, the streaming platform in Germany. The companies have a 50:50 partnership.
It will give Joyn+ subscribers unprecedented access to discovery+, the world's leading streaming service for non-fiction and real-life entertainment content. The model will also enhance and extend the commercial cooperation between the two companies in areas including BVOD and digital advertising.
Warner Bros. Discovery has agreed to transfer all its shares in Joyn to ProSiebenSat.1, which will then operate Joyn as the sole shareholder. Subject to obtaining the required regulatory approvals for the sale of Warner Discovery's shares, the parties expect to launch the new model on 1 October.
In the future, the SD versions of the linear channels DMAX, TLC, Eurosport 1, Home & Garden TV and Tele 5 and the content relevant to the 7-Day Catch-up will also be available on Joyn. The marketing will be handled by the Seven.One Entertainment Group. Additionally, all Joyn Plus+ customers will receive access to discovery+ that, upon registration, entitles them to use the service included in their subscription, for a year.
Warner Bros. Discovery is a leading global media and entertainment company that creates and distributes a differentiated and complete portfolio of content and brands across television, film, and streaming. Available in over 220 countries and territories, and in 50 languages, it inspires, informs, and entertains audiences worldwide through its iconic brands and products.
The DLA Piper core team was jointly led by counsel Dr. Isaschar Nicolaysen and partner Dr. Benjamin Parameswaran and comprised senior associate Jan Schürmann (all corporate/M&A, Hamburg). The team also included partner Dr. Justus Herrlinger (antitrust, Hamburg) and counsel Dr. Raimund Behnes (tax, Frankfurt).
The Warner Bros. Discovery team included Stephanie Struppler (vice president, legal & regulatory), Julian Pitcher (vice president M&A & global corporate legal), and Sowie Daniel Linton (director M&A & global corporate legal).
