Divo TV Private Limited (“Divo TV”) and its promoters have signed a deal to sell stake to Warner Music India Private Limited.
The deal also involved a primary subscription by Warner Music consequent to which Warner Music will become a majority shareholder of Divo TV.
Lakshmikumaran and Sridharan acted as the legal counsel to Divo TV and its promoters by assisting and advising on deal structuring, documentation, and negotiations.
The LKS Corporate and M&A team worked under the overall guidance and supervision of Sudish Sharma (Executive Partner) and comprising of Noorul Hassan (Partner) and Kumar Panda (Senior Associate).
Divo offers online video, music distribution, publishing, and digital and influencer marketing solutions for brands, celebrities, and movies. It has been working with labels, artists, and musicians to help distribute and monetize content across digital platforms, radio, and TV stations. With a large presence in the Tamil market, and a fair share of the Kannada, Malayalam, and Telegu music industries, Divo released more than 30,000 songs last year.
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