White & Case LLP - News - Joint Venture Intended to Become Leading Aggregator of Western Film Content for Booming Indian Market

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Joint Venture Intended to Become Leading Aggregator of Western Film Content for Booming Indian Market

London, Los Angeles, Singapore, May 29, 2008 ... Global law firm White & Case LLP advised Lionsgate, a leading independent film studio, on its joint venture (recently announced at the Cannes Film Festival) with Eros International ("Eros"), the London listed Indian film studio. Under the joint venture, Lionsgate and other English language content, in original as well as dubbed language versions, will be distributed in South Asia, including India. Both partners intend the joint venture to become the leading aggregator of Western film content for the booming Indian market.

"The Indian media and entertainment industry is booming, with an 18 percent compound annual growth rate projected for 2008 — 2012. With a middle class population of 400 million, that is adding 40 million to its total each year, the potential for those operating in the media and entertainment industry is immense," commented White & Case partner Andrew Weiler.

Under the partnership Lionsgate will acquire the right to distribute 20 titles from Eros's library of films, which includes top Indian box office successes, across North America. The venture will also explore the production of Indian formats and remakes based on Lionsgate and third party catalogues, and create crossover films that will tap into India's booming local language market, as well as wider audiences outside of India.

The White & Case team advising Lionsgate was led by London-based partner Andrew Weiler, working closely with associate Manisha More in London and partner Bryan Merryman in Los Angeles.

This is the latest in a line of Indian media and entertainment deals that White & Case has advised on. Earlier this year the Firm advised leading Indian television broadcaster NDTV on the sale of a 26 percent equity stake in NDTV Networks to NBC Universal, the broadcasting unit of General Electric Company, for $150 million, and last year the Firm advised NDTV on the issue by its indirect subsidiary, NDTV Networks plc., of a $100 million convertible bond that was privately placed with seven undisclosed international investors, with proceeds being used to finance NDTV Networks' newly launched entertainment channel, NDTV Imagine.

White & Case has extensive experience in executing complex Indian transactions from its London and Singapore offices. Last year the Firm advised leading Indian real estate company DLF Ltd. on its $2.25 billion Initial Public Offering (IPO) on the National Stock Exchange of India and the Bombay Stock Exchange. The flotation, which was 3.5 times oversubscribed and the largest in Indian stock market history at that time, was named the number one Indian IPO of 2007 by the India Business Law Journal.

About White & Case
White & Case LLP is a leading global law firm with more than 2,300 lawyers in 37 offices in 25 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients.

Contact:
James Martin
Media Relations Mgr EMEA, White & Case
44 0 20 7532 2853/ 44 0 7939 012 011

Alexandra Henderson
Media Relations Executive, White & Case
44 0 20 7532 2848

	Press Releases
Expertise Capital Markets India Mergers & Acquisitions Lawyers Bryan A. Merryman Andrew C. Weiler Locations London Los Angeles Singapore	Joint Venture Intended to Become Leading Aggregator of Western Film Content for Booming Indian Market London, Los Angeles, Singapore, May 29, 2008 ... Global law firm White & Case LLP advised Lionsgate, a leading independent film studio, on its joint venture (recently announced at the Cannes Film Festival) with Eros International ("Eros"), the London listed Indian film studio. Under the joint venture, Lionsgate and other English language content, in original as well as dubbed language versions, will be distributed in South Asia, including India. Both partners intend the joint venture to become the leading aggregator of Western film content for the booming Indian market. "The Indian media and entertainment industry is booming, with an 18 percent compound annual growth rate projected for 2008 — 2012. With a middle class population of 400 million, that is adding 40 million to its total each year, the potential for those operating in the media and entertainment industry is immense," commented White & Case partner Andrew Weiler. Under the partnership Lionsgate will acquire the right to distribute 20 titles from Eros's library of films, which includes top Indian box office successes, across North America. The venture will also explore the production of Indian formats and remakes based on Lionsgate and third party catalogues, and create crossover films that will tap into India's booming local language market, as well as wider audiences outside of India. The White & Case team advising Lionsgate was led by London-based partner Andrew Weiler, working closely with associate Manisha More in London and partner Bryan Merryman in Los Angeles. This is the latest in a line of Indian media and entertainment deals that White & Case has advised on. Earlier this year the Firm advised leading Indian television broadcaster NDTV on the sale of a 26 percent equity stake in NDTV Networks to NBC Universal, the broadcasting unit of General Electric Company, for $150 million, and last year the Firm advised NDTV on the issue by its indirect subsidiary, NDTV Networks plc., of a $100 million convertible bond that was privately placed with seven undisclosed international investors, with proceeds being used to finance NDTV Networks' newly launched entertainment channel, NDTV Imagine. White & Case has extensive experience in executing complex Indian transactions from its London and Singapore offices. Last year the Firm advised leading Indian real estate company DLF Ltd. on its $2.25 billion Initial Public Offering (IPO) on the National Stock Exchange of India and the Bombay Stock Exchange. The flotation, which was 3.5 times oversubscribed and the largest in Indian stock market history at that time, was named the number one Indian IPO of 2007 by the India Business Law Journal. About White & Case White & Case LLP is a leading global law firm with more than 2,300 lawyers in 37 offices in 25 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients. Contact: James Martin Media Relations Mgr EMEA, White & Case 44 0 20 7532 2853/ 44 0 7939 012 011 Alexandra Henderson Media Relations Executive, White & Case 44 0 20 7532 2848