Davis Polk is advising RTL Group in connection with the sale of SpotX to Magnite Inc. for $1.17 billion in cash and Magnite stock (based on the closing price of Magnite stock as of February 4, 2021) to create the largest independent CTV and video advertising platform in the programmatic marketplace. The transaction is subject to receipt of regulatory approvals and other customary closing conditions.
RTL Group is a leader across broadcast, content and digital, with interests in 68 television channels, 10 streaming platforms and 31 radio stations. RTL Group also produces content throughout the world and owns digital video networks. Headquartered in Denver, Colorado, SpotX is the leading global video advertising platform that enables media owners and publishers to monetize premium content across desktop, mobile and connected TV devices. Magnite is the world’s largest independent sell-side advertising platform. Publishers use its technology to monetize their content across all screens and formats—including desktop, mobile, audio and CTV.
The Davis Polk corporate team includes partner Michael Davis and associates Arthur M.T. Burke and Edna Turay. The tax team includes Partner Patrick E. Sigmon and associate Erin van Wesenbeeck. Partner Kyoko Takahashi Lin and associate Kathleen Ginder are providing executive compensation advice. Partner Jesse Solomon is providing antitrust and competition advice. Members of the Davis Polk team are based in the New York and Washington DC offices.