Warner Media’s Investment in NewTV

On August 7, 2018, WndrCo, a holding company that invests in, acquires, develops and operates consumer technology businesses, announced that it closed an initial funding round for NewTV, a mobile‑first media platform led by Meg Whitman and Jeffrey Katzenberg, raising $1 billion. The initial raise included investments by Warner Media, as well as major Hollywood studios, independent studios, technology companies and strategic partners. Cravath represented Warner Media in connection with the transaction.

The Cravath team was led by partner George F. Schoen and included associate Michael Zhang on M&A matters; partner Christopher K. Fargo and associate Richard Bohm on tax matters; and partner Peter T. Barbur on antitrust matters.