Cyril Amarchand Mangaldas Advised Collective Newsroom In Restructuring BBC India Operations
In a landmark restructuring move, Cyril Amarchand Mangaldas provided legal counsel to Collective Newsroom Private Limited (Collective Newsroom), a recently established Indian-owned and managed entity formed by senior employees of The British Broadcasting Corporation (BBC) in India.
The transaction was completed on April 10, 2024, with the launch of Collective Newsroom as a new independent media organization, with BBC as its first client.
The advisory pertained to Collective Newsroom’s acquisition of BBC’s digital news business in India, along with ongoing agreements with BBC for various activities, including content production and publication on BBC websites and social media platforms, TV news bulletin production, and the translation and adaptation of BBC content into local languages.
The company will generate content for BBC’s digital services across seven languages, including English, Hindi, Gujarati, Marathi, Punjabi, Tamil, and Telugu.
The restructuring aligns with India’s foreign direct investment (FDI) regulations, ensuring compliance and sustainability for BBC’s operations in the country.
Cyril Amarchand Mangaldas, played a pivotal role in navigating the complex restructuring process. Led by Akila Agrawal, Partner & Head – Mergers and Acquisitions, Preksha Malik, Partner, and Ishita Khandelwal, Partner, with support from Akshay Pathak, Principal Associate, Udyan Arya Shrivastava, Senior Associate, Anusha Rai, Associate, and Daanish Dube, Associate, facilitated the transaction with adept legal counsel and strategic guidance.
The collaboration also saw expertise from Aarushi Jain, Partner & Head – Media, Education & Gaming, with support from Pooja Kapadia, Principal Associate, assisted on the transaction from a media law perspective.
Bishen Jeswant, Partner, with support from Akash Mishra, Senior Associate, and Sonam Ambastha, Associate, advised on the employment law related aspects.
SR Patnaik, Partner, with support from Reema Arya, Consultant, and Shivam Garg, Senior Associate, advised on the tax law related aspects.
Swati Sharma, Partner & Head – Intellectual Property, advised on IP and trademark related aspects.
Notable advisors to the transaction included Bharucha & Partners, acting as Indian legal counsel for BBC, Dhruva Advisors as BBC’s advisor, and Deloitte, serving as a consultant for Collective Newsroom Private Limited.
The successful completion of the transaction underscores Cyril Amarchand Mangaldas’ expertise in navigating intricate corporate restructuring endeavors.