Cloud Nine: Maddocks advises on sale of broadcasting platform
Maddocks has advised Barry Kogan and Jonathan Henry, partners of McGrathNicol, the administrators of cloud-based broadcasting platform MediaCloud, on its sale to Telstra Broadcast Services Pty Limited, a Telstra Corporation subsidiary.
The MediaCloud platform is used for the preparation and delivery of media content to numerous broadcasters in Australia, including SBS, for its content delivery.
Under the deal, Telstra Broadcast Services has purchased the business and assets of MediaCloud and also from its parent entity in the UK.
Danielle said that the matter was a complex one as it involved numerous jurisdictions, including the UK, Poland and Sweden.
‘This is a restructure that should be celebrated. We were able to achieve a true continuity of business, with all employees transferring to Telstra Broadcast Services Pty Limited. Service to SBS and other national broadcasters remained uninterrupted and we were successful in securing a deal that is expected to pay unsecured creditors in full.’
Maddocks is a proudly independent Australian law firm that works closely with corporations, businesses and governments throughout Australia and internationally. We advise national and international clients across the education, government, healthcare, infrastructure and technology sectors, from our Canberra, Melbourne and Sydney offices. Our specialist expertise includes dispute resolution and litigation, employment and safety, financial services, franchising and insolvency.
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