数字版权_专利申请代理公司_如何

时间:2021-06-26 04:12编辑:弥辰版权来源:弥辰版权当前位置:主页 > 图片维权 >

数字版权_专利申请代理公司_如何

Emmis Enters Into LMA Monetization Transaction With ESPN Client News FinanceRestructuringReal EstateCorporate Share this See Also FinanceRestructuringReal EstateCorporate Share this Paul, Weiss represented Emmis Communications Corporation in connection with the recent announcement that ESPN Radio will move to the FM dial in New York City, taking over what used to be WRKS FM, otherwise known as 98.7 "Kiss FM." On April 26, Emmis, which owns WRKS, entered into a long-term Local Marketing Agreement (LMA) with ESPN. Under the terms of the LMA, ESPN will have the rights to provide programming to WRKS in exchange for a periodic payment to be made to Emmis. Emmis plans to contribute its rights under the LMA and substantially all of the station assets required to provide services under the LMA, including the Federal Communications License to operate the station, to two special-purpose financing subsidiaries. These financing subsidiaries, in turn, plan to monetize the contractual payments under the LMA with an approximately $82.5 million loan from a major insurance company and make a dividend of the net proceeds under the loan to Emmis for the purposes of Emmis' debt reduction and for general corporate purposes. In connection with the LMA, Emmis will also sell certain assets related to the operation of Kiss FM to WBLS, which has a comparable format. The Paul, Weiss team included corporate partners James M. Dubin, Eric Goodison and Lawrence G. Wee, counsel Scott D. Fisher; bankruptcy partner Alice Belisle Eaton; and real estate counsel Barry Langman. May 1, 2012

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