Roku, Inc’s Acquisition Of Quibi’s Global Content Distribution Rights

Hogan Lovells advised Roku, Inc. on the deal, while Cravath represented Quibi.

Roku, Inc. acquired exclusive global distribution rights to Quibi’s award-winning shows, a transaction that will make the content available for free on an ad-supported basis in 2021 to all Roku users.

The Quibi content includes Emmy award-winning scripted series, alternative and reality programming and documentaries featuring stars such as Idris Elba, Kevin Hart, Liam Hemsworth, Anna Kendrick, Nicole Richie, Chrissy Teigen, and Lena Waithe. The Roku Channel is the home for free and premium news and entertainment and in Q4 2020 reached U.S. households with an estimated 61.8 million people.

The transaction will deliver a distinctive array of premium content geared towards the highly coveted 18-35 age demographic, further building out The Roku Channel’s diverse lineup of more than 40,000 free movies and programs and 150 free live linear television channels. Following an internal restructuring by Quibi, Roku acquired Quibi Holdings, LLC, the company that holds all of Quibi’s content distribution rights. Financial terms of the transaction were not disclosed.

The Hogan Lovells team advising Roku, Inc. includes M&A partner Matthew Eisler (Picture – Denver) with key support from M&A partner Sheri Jeffrey (Los Angeles), senior counsel Niki Tuttle (Denver), senior associate Annie Kang (Los Angeles), and associate Samantha Leigh Seiden (Los Angeles), tax partner Mark Weinstein (New York), IP partner David London (Denver) and associate Christian Kerr (Denver), employment partners Mike DeLarco (New York) and Carin Carithers (Washington D.C.), and associate Maria Benvenuto (New York), privacy and cybersecurity partner Scott Loughlin (Washington, D.C.) and senior associate Mohammad Amer (Washington, D.C.), real estate partner Lea Ann Fowler (Denver) and senior associate Ted Brown (Denver), environmental and natural resources partner Scott Reisch (Denver) and senior associate Marta Orpiszewska (Denver), M&A attorney Julie Roach (Los Angeles), and IPMT litigation partner Clay James (Denver), senior associate Lisa Dong (Denver) and associate Rachael Collins (Denver).

Cravath team representing Quibi included partners Faiza J. Saeed and Allison M. Wein and associates Norman J. Walczak, Kathryn Kennedy Bleday and Monica He on M&A matters; partner Paul H. Zumbro and associate Alexander Gerten on financial restructuring and reorganization matters; partner Lauren Angelilli and associates Richard Bohm and Duncan H. Hardell on tax matters; partner David J. Kappos and associates Carys J. Webb and Daniel J. Etcovitch on intellectual property matters; partner Jennifer S. Conway, senior attorney Romica Singh and associates Sally Ye and Tiffany B. Wong on executive compensation and benefits matters; partner Matthew Morreale on environmental matters; and senior attorney Joyce Law and practice area attorney Laurel R. Berkowitz on real estate matters. Joana W. Li also worked on tax matters.

Involved fees earner: Lauren Angelilli – Cravath Swaine & Moore; Laurel Berkowitz – Cravath Swaine & Moore; Richard Bohm – Cravath Swaine & Moore; Jennifer Conway – Cravath Swaine & Moore; Daniel Etcovitch – Cravath Swaine & Moore; Alexander Gerten – Cravath Swaine & Moore; Duncan Hardell – Cravath Swaine & Moore; Monica He – Cravath Swaine & Moore; David Kappos – Cravath Swaine & Moore; Kathryn Kennedy Bleday – Cravath Swaine & Moore; Joyce Law – Cravath Swaine & Moore; Matthew Morreale – Cravath Swaine & Moore; Faiza Saeed – Cravath Swaine & Moore; Romica Singh – Cravath Swaine & Moore; Norman Walczak – Cravath Swaine & Moore; Carys Webb – Cravath Swaine & Moore; Allison Wein – Cravath Swaine & Moore; Tiffany Wong – Cravath Swaine & Moore; Sally Ye – Cravath Swaine & Moore; Paul Zumbro – Cravath Swaine & Moore; Mohammad Amer – Hogan Lovells; Maria Benvenuto – Hogan Lovells; Theodore Brown – Hogan Lovells; Carin Carithers – Hogan Lovells; Rachael Collins – Hogan Lovells; Michael DeLarco – Hogan Lovells; Lisa Dong – Hogan Lovells; Matthew Eisler – Hogan Lovells; Lea Ann Fowler – Hogan Lovells; Clay James – Hogan Lovells; Sheri Jeffrey – Hogan Lovells; Annie Kang – Hogan Lovells; Christian Kerr – Hogan Lovells; David London – Hogan Lovells; Scott Loughlin – Hogan Lovells; Marta Antonina Orpiszewska – Hogan Lovells; Scott Reisch – Hogan Lovells; Niki Tuttle – Hogan Lovells; Mark Weinstein – Hogan Lovells;

Law Firms: Cravath Swaine & Moore; Hogan Lovells;

Clients: Quibi; Roku Inc.;

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Author: Ambrogio Visconti