Media, Entertainment and Technology Group Outlook and Review – 2019
February 21, 2019 MEDIA, ENTERTAINMENT AND TECHNOLOGY GROUP OUTLOOK AND REVIEW – 2019 To Our Clients and Friends: With an active end to 2018 and a quick start to 2019, we have had no shortage of material to report on for our semi-annual Media, Entertainment & Technology Practice Group Update. From remasters (of pre-1972 recordings) to remand (“Stairway to Heaven”), and from Tweets (Stormy Daniels v. Trump) to retweets (Joy Reid). There was M&A and the passage of the MMA—the Music Modernization Act, enacted to facilitate the accounting and payment of royalties in the digital streaming era. Cert denials cemented notable rulings regarding California’s right of publicity, copyright fair use, and the DMCA. And in trademark law, the Supreme Court’s 2017 ruling in Matal v. Tam continued to make waves. Here, then, are the deals, rulings, and regulatory actions that capture current legal trends and will define future industry movement. I. Transaction & Regulatory Overview A. M&A 1. Disney’s Acquisition of Twenty-First Century Fox Races to Completion On July 27, 2018, Disney and Fox shareholders voted to approve the acquisition of the majority of Twenty-First Century Fox, Inc. by The Walt Disney Company for $71.3 billion in cash and stock.[1] The U.S. Department of Justice had already approved the arrangement between Disney and Fox, on June 27, 2018, with the stipulation that Disney must sell Fox’s regional sports networks.[2] Through the latter half of 2018, a number of foreign regulatory bodies evaluated the Disney-Fox merger. The Competition
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