Hogan Lovells Advises News Corporation on Purchase of Fifty Percent Interest in ESPN STAR Sports

Hogan Lovells announced today that it advised News Corporation (News Corp) in connection with News Corp’s entry into a definitive agreement with ESPN to acquire ESPN’s fifty percent equity interest in ESPN STAR Sports (ESS), giving News Corp full ownership of ESS. With the acquisition, News Corp furthers its commitment to deliver sports programming to consumers across the globe, particularly in Asian emerging markets.

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Tags:  Hogan Lovells | Los Angeles

Willkie Advises Kenneth Cole in Deal to Take Company Private

On June 6, Kenneth Cole Productions, Inc. announced that it has entered into a definitive merger agreement under which Willkie client Kenneth D. Cole, Chairman and Chief Creative Officer of the company, will acquire the company in a going-private transaction with a total enterprise value of approximately $245 million. Mr. Cole is currently the beneficial holder of approximately 46% of the company’s outstanding common stock (representing approximately 89% of the voting power). The acquisition will be made through KCP Holdco, Inc., an entity controlled by Mr. Cole and formed for the purposes of the acquisition. Under the agreement, the company’s shareholders, excluding Mr. Cole and his affiliated entities, will receive $15.25 per share in cash upon completion of the transaction. Kenneth Cole Productions, Inc. designs, sources, and markets a broad range of footwear, handbags, apparel and accessories under the brand names Kenneth Cole New York, Kenneth Cole Reaction, and Unlisted, as well as footwear under the proprietary trademark Gentle Souls.

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Tags:  Willkie Farr & Gallagher LLP | New York