O’Melveny Advises HighPoint Media Advisors in Connection with Shamrock Capital’s Acquisition of Media Portfolio from Vine Investment Advisors
July 19, 2024
FOR IMMEDIATE RELEASE
CENTURY CITY—July 19, 2024—O’Melveny advised HighPoint Media Advisors, a newly formed media advisory company led by former principals of Vine Alternative Investments, Stephen Kovach and Bill Lambert, in connection with Shamrock Content Strategy’s acquisition of a media portfolio comprised of an ownership interest in more than 550 feature films, over 2,000 hours of television programming, and 450+ songs.
The transaction was announced on July 18, 2024.
The O’Melveny team was led by partner and Entertainment, Sports & Media co-chair Amy Siegel and counsel Cailey Cavanaugh. The team also included partners Billy Abbott, Tracie Ingrasin, and Chris Del Rosso.
About O’Melveny
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Contact:
Brandon Jacobsen
O’Melveny & Myers LLP
+1 213 430 8024
bjacobsen@omm.com
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Shamrock issued the following announcement:
Shamrock Capital Acquires Premium Content Portfolio from Vine Alternative Investments
Transaction encompasses high quality film, television, and music rights bringing additional diversity and breadth to Shamrock's $2.4B Content Strategy*
LOS ANGELES, July 18, 2024 /PRNewswire/ -- Shamrock Capital, a Los Angeles-based investment firm specializing in media, entertainment, communications, and related sectors, today announced the acquisition of a diverse film, television, and music portfolio (the "Portfolio") from Vine Alternative Investments Group, LLC ("Vine"), a specialized asset manager focused on unique, non-correlated investment opportunities in the media and entertainment sector.
The Portfolio was acquired by Shamrock's Content Strategy, which acquires and finances premium content and media rights across film, television, music, sports, video games and other content-related formats. The addition of this Portfolio to Shamrock's Content Strategy further solidifies its multi-strategy platform as a financial solutions provider to the global content and media rights ecosystem. The Portfolio is comprised of an ownership interest in more than 550 feature films, over 2,000 hours of television programming and over 450 songs. Vine previously acquired the Portfolio over the past decade in funds managed and led by Jim Moore, Managing Partner, Chief Executive Officer, Bill Lambert, Partner, Chief Investment Officer, and Stephen Kovach, Partner, Head of Business Origination.
"Jim, Bill and Stephen were early movers in the entertainment royalty sector and, over time, curated an impressive portfolio of film and television libraries and music catalogues that are timeless and hold deep cultural significance. As Shamrock's Content Strategy continues to expand, we are thrilled to add this remarkable portfolio to our existing platform of premium content," commented Patrick Russo, Partner and Executive Committee Member at Shamrock Capital.
"We are long-term believers in content. This acquisition only strengthens our commitment to the filmed entertainment and music industries, and we look forward to collaborating with our major studio and music publishing partners to maximize the impact and enduring value of these unique works," added Jason Sklar, Partner and Executive Committee Member at Shamrock Capital.
"We are delighted to have worked with Shamrock on this landmark transaction. We believe their experienced stewardship of these assets will allow Vine to concentrate our focus on investments in independent content creation," said Jim Moore, CEO of Vine Alternative Investments.
Separate and unrelated to the transaction with Shamrock, Vine will pivot its attention to the growing sector of independent content production, continuing to oversee its development and production studios Village Roadshow Entertainment Group (VREG) and EuropaCorp.
In connection with the Shamrock transaction, an affiliate of Shamrock Capital has entered into a servicing arrangement with HighPoint Media Advisors, a newly formed media advisory company led by former Vine Principals, Stephen Kovach and Bill Lambert.
"This is an exciting new relationship for the HighPoint team, and we look forward toward to deepening our relationship with Shamrock Capital as we work closely with them on the iconic portfolio we built over the past decade," said Lambert and Kovach in a joint statement.
Latham & Watkins LLP served as legal advisor to Shamrock on the transaction. Salem Partners LLC served as financial advisor and Paul Hastings LLP and Kirkland & Ellis LLP served as legal counsel to Vine on the transaction. O'Melveny & Myers LLP served as legal counsel to HighPoint Media Advisors on the transaction.
*Reported AUM for Shamrock Content Strategy is as of March 31, 2024, and pro-forma for the Vine Portfolio transaction.
About Shamrock Capital
Shamrock Capital is a Los Angeles-based investment firm that invests exclusively in media, entertainment, communications, and related sectors through a multi-fund strategy centered on private equity investments, as well as ownership and financing of content and media rights. The firm was originally founded in 1978 as the family investment company for the late Roy E. Disney and has since evolved into an institutionally backed firm with a leading group of investors, including endowments, foundations, and sovereign wealth and pension funds. Shamrock Capital partners with strong management teams and content owners, and takes an active, collaborative approach to creating value in each investment. For more information, visit www.shamrockcap.com
About Vine Alternatives Investment Group
Vine Alternative Investments was founded in late 2006 as a specialized asset manager that focuses on unique, non-correlated investment opportunities in the media and entertainment sector. Since its founding, the Firm has closed 26+ transactions, investing close to $1.3 billion of capital in the media and entertainment sector. www.vinealternativeinvestments.com
About Highpoint Media Advisors
HighPoint Media Advisors is a newly formed consulting and servicing firm providing market insight to owners of media and entertainment royalty assets. Formed by two of the former founding partners of Vine Alternative Investments, the firm will leverage its long history of managing intellectual property rights within the film, television, and music space.
FOR MORE INFORMATION, PLEASE CONTACT:
Investors:
Leah Hiraoka, Shamrock Capital
lhiraoka@shamrockcap.com
Media:
Mickey Mandelbaum, Prosek Partners
Pro-shamrock@prosek.com