DEAL DETAILS
Warner Music India Private Limited | Acquisition of majority stake in Divo
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NO
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HEADINGS
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DETAILS
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1.
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Sector
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Music | Media
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2.
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Announcement Date
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8 February 2023
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3.
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Name & Address of Client
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Warner Music India Private Limited
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4.
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Company, Company’s Country
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Divo TV Private Limited, India
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5.
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Target Description
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Divo offers online video, music distribution, publishing, digital and influencer marketing solutions for brands, celebrities, and movies. It has been working with labels, artists and musicians to help distribute and monetise their content across digital platforms, radio and TV stations. The company that released over 30,000 songs last year, has a presence in the Tamil, Kannada, Malayalam and Telegu music industries.
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6.
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Deal Description
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Warner Music India has signed a deal to acquire majority stake in Divo, a digital media and music company in India with presence across all four south Indian language music markets.
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7.
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Total Consideration
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Not announced
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8.
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Turnover of Target if Deal Value Undisclosed
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Not announced
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9.
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Team Members
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Core Team consisted of Bhavik Narsana (Partner) and Ekta Janghu (Associate) with assistance from Rohan Jhaveri (Associate) and Tanya Nair (Associate) on documentation and from Ayesha Bhattacharya assisted on DD related aspects.
Tanu Banerjee (Partner-TMT), Ishan Johri (Principal Associate), Akriti Sirsalewala (Associate) and Sankalp Jain (Associate) assisted on media related aspects.
Nishad Nadkarni (Partner), Reshma Vaidya Gupte (Principal Associate) and Udita Kanwar (Senior Associate) assisted on intellectual property aspects.
Deepak Kumar (Partner) and Shreya Sukhtankar (Associate) assisted on employment aspects.
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10.
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Role of Firm
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The Firm advised the Clients on the transaction, negotiation and finalization of the documentation, and assisting on closing.
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