Roman Mars’ 99% Invisible, which produces the hit podcast of the same name along with What Trump Can Teach Us About Con Law, has been acquired by SiriusXM. The deal brings Mars and 13 employees under SiriusXM brand Stitcher. Mars was represented by Sklar Kirsh LLP, a corporate, media/entertainment and real estate law firm based in Century City. Financial terms were not disclosed.
Partner Scott R. Ehrlich, who led Sklar Kirsh’s efforts along with corporate associate Jennifer L. Cohen, said “the acquisition provides Roman and the rest of the 99% Invisible team a bigger and better financed platform, which allows them to focus on producing the content their audience loves. We are grateful to Roman for allowing us to assist him with this transaction. As a SiriusXM subscriber myself, I’m particularly excited by this combination” adding “if you aren’t already a 99% Invisible listener, you’re missing out.”
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“In a time of accelerating industry consolidation, we are seeing independent content creators seek tie ups with established media companies to better compete for an audience by relieving the administrative burden of running a business,” said Ehrlich.
AGM Securities, an affiliate of United Talent Agency, acted as exclusive financial advisor to Roman Mars/99% Invisible, while GHJ provided accounting and tax expertise. Weil, Gotshal & Manges LLP served as legal counsel to Sirius XM.
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Sklar Kirsh LLP is a boutique law firm that provides sophisticated and expert advice in the areas of corporate, real estate, bankruptcy and entertainment law as well as commercial, real estate and entertainment litigation. The firm’s entertainment and media practice regularly counsels on matters ranging from film, television and digital media development, production, post-production, finance, and distribution to complex corporate transactions, including mergers and acquisitions, debt and equity financings, and joint ventures. Two of the firm’s partners previously served as General Counsel at entertainment and media companies. For more information, visit SklarKirsh.com.
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