Two Firms Lead on Landmark BBC and ITV Deal
The joint streaming service, Britbox, is set to go live later this year.
July 22, 2019 at 03:16 AM
2 minute read
CMS and Hogan Lovells have picked up lead advisory roles on a streaming-service joint venture between the BBC and ITV aimed at the U.K. market.
The broadcasters today (July 19) announced that a deal had been struck to launch the service, which will be called BritBox, towards the end of this year.
The streaming service will be co-branded and include recent programmes and classic boxsets produced by both channels, priced at £5.99 per month – £3 cheaper than media giant and rival Netflix.
BritBox already operates in North America, where it has more than half a million subscribers.
CMS is advising the BBC group on the partnership, with broadcasting head Selina Potter and corporate partner Simon Morgan leading the advisory team.
Hogan Lovells is advising ITV with a team led by corporate partner Peter Watts. Competition partner Mark Jones and regulatory partner Charles Brasted are also involved.
Under the terms of the agreement, BritBox will be an ITV-controlled venture, but as a founding partner, the BBC will contribute to the development and strategic direction of the venture.
The latest deal follows hot on the heels of BBC Studios' £300 million agreement with U.S. media giant Discovery, in which CMS also represented the BBC. The deal comprised the multimillion-pound takeover by BBC Studios of seven UKTV channels; a global content partnership to power a new global streaming service; and a bespoke development deal for the BBC's iconic documentaries.
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