Weil is advising Univision Communications Inc., a leading American media company, with respect to the Hungarian aspects of the $135 million acquisition of Gawker Media Group’s digital media assets, following its filing for chapter 11 bankruptcy as a direct result of the Hulk Hogan invasion of privacy lawsuit. The deal, which will be accounted for as an asset purchase, includes the Gizmodo, Jalopnik, Jezebel, Deadspin, Lifehacker and Kotaku digital platforms of Gawker (Univision will not be operating the Gawker.com site). Weil Budapest has been assisting with legal due diligence, deal structuring, setting up a Hungarian acquisition vehicle, and local transaction support as well as currently assisting with closing, which is expected to occur in the coming weeks.

The Budapest office of Weil is regularly involved in high profile M&A transactions in the Hungarian market. Notable recent representations include advising GE Capital on the $700 million sale of Budapest Bank, advising Magyar Telekom (a subsidiary of Deutsche Telekom) on the auction sale of Origo (a leading news portal) and advising on the sale of the Budapest Stock Exchange.

The Budapest team includes Managing Partner of the Budapest office David Dederick, M&A counsel Pál Szabó, senior associate Annamária Csenterics, associate Eszter Katona and junior associate Csenge Koller.

Univision’s legal transaction team was led by the Corporate and M&A teams of O'Melveny & Myers LLP and the Bankruptcy, Entertainment and M&A teams of Latham & Watkins LLP.