Latham and Addleshaws advise on Netflix's first ever acquisition

Latham & Watkins and Addleshaw Goddard are advising as Netflix buys comic book company Millarworld, its first ever acquisition.

Millarworld was founded by comic book writer Mark Millar in 2004, and includes his well-known portfolio of characters and stories, such as Kick-Ass and Kingsman.

Latham is advising Netflix on the deal with a team led by London entertainment, sports and media partner Libby Savill and corporate partner Robbie McLaren. London tax partner Karl Mah is also advising.

Addleshaw Goddard is acting for Millarworld owners Mark Millar and his wife Lucy on the sale, with a team led by Manchester-based corporate partner Roger Hart.

The financial value of the deal was not disclosed.

Netflix launched in 1998 but did not set up its online streaming service until 2007. It currently has about 100 million members in more than 190 countries.

Millar also wrote Civil War, Marvel Comics’ biggest selling graphic novel of all time and the inspiration for Hollywood blockbuster Captain America: Civil War.

The deal will allow Netflix to create new media content based on Millarworld’s portfolio of character franchises. Millarworld will also continue to create and publish new stories and character franchises under the Netflix label.

Other high-profile media deals this year include the sale of the England and Wales Cricket Board (ECB) rights for 2020 to 2024.

CMS was appointed to advise the ECB with legacy Olswang partner David Zeffman, now head of gambling and sport at CMS, leading the team.