Comcast Spectacor eSports joint venture with SK Telecom
Davis Polk is advising Comcast Spectacor on its joint venture with SK Telecom Co., Ltd. to form a global eSports team business to be named T1 Entertainment & Sports. The joint venture will include SKT’s Korean eSports team, SK Telecom T1, which competes in the League of Legends competitive gaming segment, as well as other Comcast Spectacor and SKT eSports teams competing in other competitive gaming segments, including Fortnite, PUBG, Super Smash Brothers, Hearthstone and Apex Legends. The closing of the transaction is subject to regulatory approvals and other customary closing conditions.
Comcast Spectacor is a professional sports and live entertainment company and a wholly owned subsidiary of Comcast Corporation, a global media and technology leader which operates Comcast Cable, NBCUniversal and Sky. SKT is the largest mobile operator in Korea.
The Davis Polk corporate team includes partner Miranda So, counsel Sam Kelso and associate Samuel Kang. Partner Frank J. Azzopardi is providing intellectual property advice. Partner Patrick E. Sigmon is providing tax advice. Partner Kyoko Takahashi Lin is providing executive compensation advice. Members of the Davis Polk team are based in the Hong Kong and New York offices.