Cravath’s London Office Moves to 100 Cheapside
Cravath represented The Walt Disney Company in connection with offers by TWDC Holdco 613 Corp. (“New Disney”), a wholly‑owned subsidiary of The Walt Disney Company, to exchange any and all outstanding notes issued by 21st Century Fox America, Inc. (the “21CFA Notes”) for up to $18.1 billion aggregate principal amount of new notes to be issued by New Disney and cash, and solicitations of consents to amend the indentures governing the 21CFA Notes. This exchange offer was made in connection with The Walt Disney Company’s acquisition of Twenty‑First Century Fox, Inc. The offer closed on March 20, 2019.
The Cravath team included partner Nicholas A. Dorsey and associates Virginie Marier, Dominic V. Capasso, Katharine A. Patterson and Samyel Lee on securities matters, and partners Stephen L. Gordon and Lauren Angelilli and associates Peter W. Rogers and Rebecca L. Fine on tax matters.
Deals & Cases
January 06, 2025
On January 6, 2025, The Walt Disney Company (“Disney”) and FuboTV Inc. (“Fubo) announced that they have entered into a definitive agreement for Disney to combine its Hulu + Live TV business with Fubo, forming a combined virtual MVPD company of which Disney will become the majority owner.
Deals & Cases
April 04, 2024
On April 3, 2024, The Walt Disney Company (“Disney”) announced that, based on the tabulation of its proxy solicitor, it appears that Disney’s full slate of 12 directors has been elected by a substantial margin over the nominees of Trian and Blackwells at Disney’s 2024 Annual Meeting of Shareholders. Cravath is representing Disney in connection with this matter.
Deals & Cases
August 08, 2023
On August 8, 2023, ESPN announced an agreement with PENN Entertainment (“PENN”) to launch ESPN BET, a branded sportsbook for fans in the United States. PENN Entertainment will rebrand its current sportsbook and relaunch as ESPN BET, effective this Fall in the 16 legalized betting states where PENN Entertainment is licensed. The rebrand includes the mobile app, website, and mobile website. In connection with the transaction, PENN Entertainment has agreed to grant ESPN warrants to purchase approximately 31.8 million PENN common shares that will vest ratably over 10 years, with the potential for ESPN to receive additional bonus warrants to purchase up to an additional approximately 6.4 million PENN common shares. ESPN is 80 percent owned by ABC, Inc., an indirect subsidiary of The Walt Disney Company. Cravath is representing The Walt Disney Company (“Disney”) in connection with the transaction.
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