Olswang advises IMG Worldwide on a seven-year strategic partnership with Livestream
04 Oct, 2013
International technology, media and telecoms law firm Olswang has advised IMG Worldwide, the global sports, fashion, and media company on its strategic partnership with Livestream (Livestream.com), a market leader in live video streaming for online distribution.
The parties currently work together on flagship events such as Wimbledon, The Open Championship, the National Rugby League, and major European football leagues. Following an in-depth assessment of the market by IMG, this new long-term partnership will facilitate the broadcast and distribution of live events around the world.
IMG Worldwide employs around 3,500 people and operates in more than 30 countries around the globe. New York-based Livestream recently emerged as the largest live video platform by unique visitors in the US (according to Compete.com) and the deal marks its expansion into Europe.
Michel Masquelier, President of IMG Media, said: “Livestream is clearly the uncontested market leader in live streaming, innovating beyond any of its competitors, and is the only live video company that provides a full end-to-end solution for our partners and customers” and Duncan Fay, Senior Vice President and Finance Director of IMG Media, added “Olswang’s expertise in the media and technology industries meant the team understood the business value of this venture for us, and were able to guide us through all the necessary steps to formalise the partnership. We know we can rely on Nick and the Olswang team for commercially-savvy advice and smooth delivery, and that’s why we trust them with our most strategic moves.”
Nick Crosbie (pictured), the Corporate Partner who led the Olswang team, commented: “For the past 50 years IMG Worldwide has been at the forefront of innovation in the brand and media space, so it was great to be able to help them to keep true to their pioneering business approach and expand their offering by allowing online audiences to view live sports and other events from any connected device.”
Corporate Partner Nick Crosbie was assisted by Associate Yasmine Meeajun, while Partner Victoria Gaskell and Senior Associate Suparna Bhattacharjee advised on the media and technology aspects of the deal.
Couchmans LLP (Andrew Price) advised Livestream.