OnlyFans has tapped a 20-year Skadden veteran as its new general counsel, bolstering its M&A prowess.
David Eisman currently leads Skadden’s media and entertainment group and is a key member of the firm’s mergers & acquisitions group in Los Angeles. He joins OnlyFans as the company is in advanced talks to sell a minority stake in a deal valuing the business at more than $3 billion, according to Bloomberg News.
OnlyFans declined to comment on a potential sale or any connection to the hiring of Eisman, who it said will start in the coming weeks.
Eisman has advised on several high-profile media and entertainment deals, including the sale of DreamWorks Studios to Paramount Pictures and Shamrock Capital’s acquisition of Taylor Swift’s master recordings for her first six albums.
“I am thrilled to join OnlyFans at such a pivotal moment in its growth,” Eisman said in a statement. “I look forward to working with the OnlyFans team to support the creator community and expand opportunities for direct audience engagement and content monetization.”
Founded in 2016, OnlyFans says it has more than 4 million creators and 377 million users worldwide. The company has faced legal scrutiny over allegations of consumer fraud and video privacy violations. Its owner, billionaire Leonid Radvinsky, died in March, prompting renewed interest in a potential sale.
Eisman succeeds Craig Hubble, who became general counsel in September 2023. He will remain with the company as senior litigation counsel. Before Hubble, OnlyFans’ legal shop was led by its current CEO, Keily Blair.
Hubble did not respond to a request for comment.
Skadden is one of several firms OnlyFans has relied on for legal matters, alongside Orrick, Herrington & Sutcliffe, where Blair previously worked.
“David is a seasoned professional, respected across the tech, media and entertainment sector,” Blair said in a statement. “He will be a great addition to the OnlyFans team as we look to grow and enhance our business offering and footprint.”
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