Morrison & Foerster advised European events provider Deutsche Entertainment AG (DEAG) on the structuring of a joint venture for its subsidiary Myticket with media partners Axel Springer and ProSiebenSat.1.
The online ticketing platform Myticket.de was launched in the fourth quarter of 2014 and has since been selling tickets from DEAG as well as other event organizers.
BILD (Axel Springer) and Starwatch (ProSiebenSat.1) each acquired a 20 percent stake in Myticket as part of a media-for-equity agreement. In return, the two media partners provide media services in the form of TV spots (Starwatch) and print or Internet advertising formats (BILD) in the value of EUR 9 million each.
The Morrison & Foerster Berlin deal team was led by corporate partner Dirk Besse; antitrust partner Andreas Grünwald; employment partner Hanno Timner; TTG/IP counsel Kristina Ehle; corporate associate Moritz Heuser; and antitrust associate Jens Hackl.