Stroock & Stroock & Lavan LLP, a national law firm with offices in New York, Los Angeles, Miami and Washington, DC, represented reality television producer Leftfield Entertainment (“Leftfield”) in a transaction to sell an 80 percent stake of the company to ITV plc for $360 million.
The deal, which closed on May 6, 2014, includes plans for additional potential payments depending on Leftfield’s future profits, and a put/call with respect to the 20% of Leftfield retained by its founder. Leftfield produces hit unscripted television shows including “Pawn Stars” and numerous others.
“The deal represents years of work by Chief Executive Officer Brent Montgomery to create value in the business in addition to the value already there by partnering with or acquiring other producers and creating a group with some heft,” said Matthew Thompson, Partner at Stroock & Stroock & Lavan LLP who lead the deal.
In March 2013, Mr. Thompson assisted Leftfield in obtaining an eight figure credit facility led by Barclay’s Bank and represented Leftfield in its purchase of Sirens Media, producer of shows including “Housewives of New Jersey.”
The Stroock legal team, led by Partner Matthew Thompson, included Partner Schuyler Moore, Special Counsel Glen Mastroberte and Associates Sally James and Jeremy Landau.
