DLA Piper has advised Warner Bros. Discovery on an agreement with ProSiebenSat.1 Media SE on a new cooperation model for Joyn, the streaming platform in Germany that the two companies have been 50:50 partners on. The new model will give Joyn+ subscribers unprecedented access to discovery+, the world’s leading streaming service for non-fiction and real-life entertainment content, and will enhance and extend the commercial cooperation between the two companies in areas such as BVOD and digital advertising.
As part of the new model, Warner Bros. Discovery has agreed to transfer its shares in Joyn GmbH in full to ProSiebenSat.1 Media SE, which will then operate Joyn as the sole shareholder. Subject to obtaining required regulatory approvals for the sale of Warner Bros. Discovery’s shares, the parties expect to launch the new model from 1 October.
The SD versions of the linear channels DMAX, TLC, Eurosport 1, HOME & GARDEN TV and TELE 5 as well as the content relevant to the 7 Day Catch-up will also be available on Joyn in the future. The marketing of this content on Joyn will be handled by the Seven.One Entertainment Group. In addition, all Joyn PLUS+ customers will receive access to discovery+ that entitles them to use the service included in their subscription for twelve months upon registration.
Warner Bros. Discovery is a leading global media and entertainment company that creates and distributes a differentiated and complete portfolio of content and brands across television, film and streaming. Available in more than 220 countries and territories and 50 languages, Warner Bros. Discovery inspires, informs and entertains audiences worldwide through its iconic brands and products.
The DLA Piper core team was jointly led by counsel Dr Isaschar Nicolaysen and partner Dr Benjamin Parameswaran and also comprised senior associate Jan Schürmann (all Corporate/M&A, Hamburg). The team also included partner Dr Justus Herrlinger (Antitrust, Hamburg) and counsel Dr Raimund Behnes (Tax, Frankfurt).
The in-house team at Warner Bros. Discovery also comprised Stephanie Struppler (Vice President Legal & Regulatory), Julian Pitcher (Vice President M&A & Global Corporate Legal) sowie Daniel Linton (Director M&A & Global Corporate Legal).
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