Davis Polk is advising the Los Angeles Dodgers ownership group on the creation of American Media Productions, LLC, a new regional sports network called SportsNet LA, which will be the home for the Los Angeles Dodgers beginning with the 2014 Major League Baseball season. Time Warner Cable Inc. has agreed to be SportsNet LA’s charter distributor, and will carry the new network for its customers throughout Southern California and Hawaii under a long-term affiliation deal. Time Warner Cable also will be the exclusive advertising and affiliate sales agent for the new network and will have certain branding and programing rights with respect to the network. Time Warner Cable will also provide certain non-game production and technical services to the network. The agreement with Time Warner Cable is subject to certain closing conditions.

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Simpson Thacher represented the underwriters, led by UBS Securities LLC, Stifel, Nicolaus & Company, Incorporated and JMP Securities LLC, in connection with the public offering by JMP Group Inc. of $46 million of its 8.00% Senior Notes due 2023.

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The Firm recently represented KKR Financial Holdings LLC (NYSE: KFN) in an offering of 14,950,000 7.375% Series A LLC Preferred Shares, which includes the underwriters’ full exercise of their over-allotment option. The Shares are expected to begin trading on the New York Stock Exchange on January 29, 2013 under the symbol “KFP”. The offering raised proceeds to the company of approximately $370 million.

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Edwards Wildman Palmer LLP is pleased to announce that Carlos Ortiz will join the firm as a partner in the firm’s White Collar & Government Enforcement practice group. A seasoned litigator, Ortiz will base his practice in the firm’s offices in New York City and Madison, NJ.

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Cindy Yang has joined the Schiff Hardin LLP New York office as a partner in the Intellectual Property Group from Dickstein Shapiro LLP in New York.

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John Sarchio, one of the insurance industry’s leading and most respected lawyers, has joined Holland & Knight as chair of the firm’s Insurance Industry Practice Team. Mr. Sarchio, most recently co-founder and co-head of the Insurance and Reinsurance Practice Group at Chadbourne & Parke LLP, brings with him Richard G. Liskov, who joins the firm as a partner. Mr. Sarchio also formerly led the insurance practice at White & Case LLP.

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SRZ represented Cerberus Capital Management LP and LNR Property LLC on the $1.05 billion sale of LNR to Starwood Property Trust and Starwood Capital Group. Under the terms of the deal, which was announced Jan. 24, 2013, Starwood Property Trust will acquire LNR business segments, including 50 percent of its interest in the nation’s leading residential and commercial real estate exchange Auction.com, for a total purchase price of $856 million. In addition, Starwood Capital Group will acquire for $197 million both LNR’s US Commercial Property Group and the other 50 percent of LNR’s ownership interest in Auction.com. Miami-headquartered LNR is a leading diversified real estate investment, finance, management and development firm with 12 offices throughout the U.S. and Europe.

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Cravath represented CyrusOne Inc. in connection with its US$361 million initial public offering of common stock. CyrusOne Inc., a subsidiary of Cincinnati Bell Inc., is a real estate investment trust that owns, operates and develops data center properties. The shares will be listed on the NASDAQ Global Select Market. The transaction closed on January 24, 2013.

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Reed Smith LLP, a leading international law firm, today announced the addition of Jeff Legault as a partner in its firmwide Corporate & Securities practice in the firm’s New York office.

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Davis Polk is advising MSCI Inc. in connection with its $23.5 million acquisition of Investor Force Holdings, Inc. The transaction is expected to close in the first quarter of 2013, subject to customary closing conditions.

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