Sony Music JVs with podcast producer Renay Richardson as Broccoli Content
The HLaw team acted for Renay Richardson on a fast-paced transaction by which a portion of Renay’s equity in the existing Broccoli Content was acquired by Sony Music Entertainment so as to turn the operating company into a corporate joint venture. As part of the deal Sony has also invested in the Broccoli Content business with a view to rapid development and expansion. In addition, under a services arrangement executed at completion Broccoli Content’s original programming schedule will have the benefit of support from Sony’s considerable resources. The agreement marks Sony’s first podcasting production joint venture outside of the US.
Renay founded Broccoli Content in the summer of 2018 in response to the lack of opportunities both in front of, and behind, the mic for minority talent.
Deal/project: Acquisition and JV
Date closed: September 2019
Other lawyers and advisors: Mike Young and team at Reed Smith (London)