BLP advises Tesco on acquisitions of blinkbox and Auto Online Limited
Law firm Berwin Leighton Paisner (BLP) has advised longstanding client Tesco on its acquisition of the UK’s leading movie streaming website business blinkbox. The announcement follows shortly after BLP advised on the launch of online car sales company, Tesco Cars.
blinkbox offers over 9000 films and TV titles to over 2m website visitors each month through its unique combined free/pay ‘freemium’ offering, which enables customers to stream paid-for movies alongside free, advert-supported TV and film content.
Corporate Finance partner Rob Salter led the BLP team advising on both transactions. For the blinkbox acquisition, he was assisted by Michael Weir, Jo Longley and tax partner Charles Goddard, while Richard Stewart, Victoria Cabot, Charlotte Pham and tax partner Charles Goddard provided support on the Tesco Cars deal.
Commenting on the transactions, Rob said: “We are delighted to have advised Tesco on these exciting transactions. The online and digital space in both the automotive and entertainment arena will provide opportunities for Tesco to serve new consumer markets and offer their existing customer base new products and services.”
Pitmans and Olswang advised the management team of blinkbox with Ashfords advising the majority shareholders. Blake Lapthorn advised Auto Online and its existing shareholders on the Tesco Cars transaction.
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