Freshfields advises Saudi Telecom Company on first Middle Eastern content joint venture

The joint venture aims to produce and aggregate content for digital trade platforms including 3G, internet TV and Triple Play/Quadruple Play.

As lead counsel in this innovative project, international law firm Freshfields Bruckhaus Deringer LLP is advising main investor STC.

STC will hold 51% in the new joint venture that will be based in Dubai City, UAE.

Further investors are the leading Saudi Arabian publishing house Saudi Research and Marketing Group (SRMG) holding 29%, and the listed Malaysian media company Astro All Asia Networks plc holding 20%.

The joint venture will expand to become one of the leading content aggregation ventures in the Middle East and North Africa (MENA) region as well as in Turkey and South Africa.

Freshfields partner Thomas Tschentscher comments: 'The content joint venture of these three leading media and telecoms players is the first of its kind and will set a benchmark. We are proud to be instructed again by our client STC on this exciting project, and to provide cross border and cross practice advice to one of the most active players in the media and telecoms sector in MENA.'

Freshfields Bruckhaus Deringer is advising STC on an ongoing basis in its dynamic expansion in the MENA region and Asia.

The integrated international Freshfields team for STC in the joint venture agreement was led by Düsseldorf Technology, Media and Telecommunications (TMT) partner Thomas Tschentscher and included Julia Sommer (TMT, Düsseldorf) as well as Bruce Embley and Gerald Steinke (both corporate, Dubai/Riyadh).