Media and Entertainment

Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with a $1.5 billion revolving credit facility made available to Coupang, Inc., a leading global technology and commerce company providing retail, restaurant delivery, video streaming and fintech services to customers around the world under brands that include Coupang, Coupang Eats, Coupang Play and Farfetch. The transaction closed on June 2, 2025.

On April 30, 2025, the U.S. District Court for the Northern District of California granted Cravath client Epic Games, Inc.’s (“Epic”) motion to enforce a nationwide permanent injunction against Apple, Inc.’s (“Apple”) anti‑steering policies for in‑app payments. Epic secured the injunction to restrain and prohibit Apple’s anticompetitive conduct and fees, following a three‑week bench trial in May 2021, in which Cravath also represented Epic. In its April decision, the Court ruled that Apple was in willful violation of the 2021 injunction, having thwarted the injunction’s goals and continued its anticompetitive conduct. The Court noted that “Apple willfully chose not to comply with this Court’s Injunction. It did so with the express intent to create new anticompetitive barriers which would, by design and in effect, maintain a valued revenue stream; a revenue stream previously found to be anticompetitive. That it thought this Court would tolerate such insubordination was a gross miscalculation.” As a result, the Court enjoined Apple from implementing its new restrictions and fees that violated the injunction, effective immediately.

On May 9, 2025, TaskUs, Inc. (“TaskUs”), a leading provider of outsourced digital services and next‑generation customer experience to companies, announced it has entered into a definitive agreement to become a privately held company. Under the terms of the agreement, an affiliate of Blackstone, TaskUs Co‑Founder and Chief Executive Officer Bryce Maddock and TaskUs Co‑Founder and President Jaspar Weir (collectively the “Buyer Group”) will acquire 100% of the outstanding shares of Class A common stock they do not already own for $16.50 per share in an all-cash transaction. Upon completion of the transaction, the Company’s Class A common stock will no longer be listed on any public market. The TaskUs Board of Directors has approved the transaction upon the unanimous recommendation of a special committee of independent directors (the “Special Committee”), which was formed on March 20, 2025, in response to interest expressed by the Buyer Group in exploring a possible transaction. Cravath is representing the Special Committee in connection with the transaction.

On March 18, 2025, Wiz, Inc. (“Wiz”), a leading cloud security platform headquartered in New York, and Google LLC (“Google”) announced they have signed a definitive agreement for Google to acquire Wiz for $32 billion, subject to closing adjustments, in an all‑cash transaction. Once closed, Wiz will join Google Cloud. Cravath is representing Wiz as regulatory counsel in connection with the transaction.

Cravath represented the administrative agent, joint lead arrangers and joint bookrunners in connection with a $600 million inaugural term loan B facility made available to DraftKings, Inc. for general corporate purposes. DraftKings is a digital sports entertainment and gaming company created to be the Ultimate Host and fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming, and digital media. The transaction closed on March 4, 2025.

Cravath partner Gary A. Bornstein was named to The Hollywood Reporter’s “New York Power Lawyers” list, which recognizes New York’s top entertainment lawyers, selected based on “the impact of their cases, the profiles of their clients and their reputation for success,” and was published in the June 4, 2025 issue of The Hollywood Reporter Magazine. The feature highlighted Gary’s representation of Epic Games in its successful antitrust litigation against Google, requiring Google to distribute alternative app stores on the Google Play Store, and against Apple, securing a permanent injunction against Apple’s anti‑steering policies for in‑app payments.

The 2025 edition of Chambers USA ranked Cravath in the top tier nationally in seven areas: Antitrust; Capital Markets (Investment Grade Debt – Issuer Counsel); Capital Markets (Investment Grade Debt – Manager Counsel); Corporate/M&A (The Elite); Securities (Litigation); Securities (Regulation – Advisory); and Tax (Corporate & Finance). In New York, the Firm was ranked in the top tier in eight areas: Antitrust; Bankruptcy/Restructuring (Highly Regarded); Corporate/M&A (The Elite); Environment (Mainly Transactional); Litigation (General Commercial: The Elite); Litigation (Securities); Media & Entertainment (Corporate); and Tax. Fifty‑four Cravath lawyers were ranked across 23 practice categories.

On April 24, 2025, Managing IP honored Cravath at the publication’s 2025 Americas Awards, which recognize “in‑house teams, firms, individuals and corporations behind the most innovative and challenging IP work of the past year, as well as those driving the international market.” The Firm was honored with an Impact Case of the Year award for its successful representation of client Sherman Nealy in an appeal before the U.S. Supreme Court, which ruled the Copyright Act entitles a copyright owner to obtain damages for any timely filed infringement claim, regardless of when the infringement occurred.

Cravath partner Faiza J. Saeed was named to The Hollywood Reporter’s annual “Power Lawyers” list, which recognizes “the entertainment industry’s most powerful legal advocates” and was published in the April 2, 2025 issue of The Hollywood Reporter Magazine. The feature highlighted Faiza’s representation of the Paramount Special Committee of independent directors in connection with Paramount’s $28 billion merger agreement with Skydance, as well as her representation of the independent Special Committee of Endeavor’s board of directors in connection with Endeavor’s $25 billion take private acquisition by Silver Lake. This is Faiza’s eighth year being recognized as a “Power Lawyer.”

Cravath partners Gary A. Bornstein and Kevin J. Orsini were named to Crain’s New York Business’s list of “Notable Litigators and Trial Attorneys,” published on March 24, 2025. The list honors “a talented cohort” of litigators and trial attorneys who are “shaping precedent and advocating for their clients across industries and issues.”