Arnold & Porter Advises on Sale of Middle-earth Enterprises to Swedish Gaming Company
Arnold & Porter advised longtime client The Saul Zaentz Company on an agreement to sell Middle-earth Enterprises to Freemode Iconic Holding Inc, a subsidiary of the Swedish gaming company Embracer Group.
The sale includes the intellectual property catalog and worldwide film, stage, and merchandising rights in The Hobbit and The Lord of the Rings by J.R.R. Tolkien. Freemode will also acquire the matching rights to other Middle-earth-related literary works authorized by the Tolkien Estate, which have yet to be explored.
The Arnold & Porter team was led by partners Tom Magnani, head of the firm’s Technology Transactions practice and co-chair of the Technology, Media, & Telecommunications industry group, and Edward Deibert, co-head of the firm's M&A practice. The team also included associates Amy Lehrburger and Ben Danieli on intellectual property transaction issues; John Fiorenzo and Claire Eaton on corporate and finance issues; partner William Needle and associate Anna Parnes on tax issues; counsel Justin Hedge on antitrust issues; and counsel Kathleen Wechter and associate Kathryn Geoffroy on compensation and benefits issues.