Kirkland & Ellis is guiding Warner Bros. Discovery Inc. in the media giant’s plan to split into two publicly traded companies.
The transaction required three different teams of Kirkland lawyers to implement the separation into two companies, the design of the capital structuring transactions, and the tender offers and consent solicitations. One company will house the HBO Max streaming service, while the other will hold its cable business and CNN.
Kirkland corporate lawyers Daniel Wolf, Ed Lee, and Allie Wein led the legal team.
Kirkland in December guided Warner Bros. plans to split its organizational structure into those two units. Dividing them further into separate companies will allow each unit to “pursue important investment opportunities and drive shareholder value,” Chief Financial Officer Gunnar Wiedenfels said in a statement.
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