Temasek’s Acquisition of Minority Stake in Horizon Media

Cleary Gottlieb Steen & Hamilton represented Temasek in the transaction.

Temasek executed its acquisition of a minority ownership stake in Horizon Media Holdings Inc. (Horizon Media).

The transaction was announced on December 8, 2021. As part of the agreement, Horizon’s existing owner will retain a majority position and current Horizon management will continue to lead the company. Terms of the transactions were not made publicly available.

Temasek is a global investment company with a net portfolio value of S$381bn (US$283bn) as at 31 March 2021. Headquartered in Singapore, it has 13 offices in 9 countries around the world. The Temasek Charter defines Temasek’s three roles as an Investor, Institution and Steward, which shape its ethos to do well, do right, and do good.

Horizon Media, Inc, the largest U.S. media agency according to AdAge Data Center 2021, delivers data-driven business outcomes for some of the most innovative and ambitious brands.  Founded in 1989, headquartered in New York, and with offices in Edmonton, Los Angeles and Toronto, the company employs 2,500 people and has media investments of more than $9.5 billion

The Cleary corporate team included partner-elect Charlie Allen (Picture), partner Paul Shim, and associates Nimat Lawal, and Paul Brudnick. Partner Jason Factor and associate Benjamin Hanson advised on tax matters. Partner Michael Albano and associate Ashley Powell advised on employment benefits and executive compensation matters. Partner Daniel Ilan and associates Lindsay Harris, and Samantha Simmons advised on intellectual property and data privacy matters.

Involved fees earner: Michael Albano – Cleary Gottlieb Steen & Hamilton; Charles Allen – Cleary Gottlieb Steen & Hamilton; Paul Brudnick – Cleary Gottlieb Steen & Hamilton; Jason Factor – Cleary Gottlieb Steen & Hamilton; Benjamin Hanson – Cleary Gottlieb Steen & Hamilton; Lindsay Harris – Cleary Gottlieb Steen & Hamilton; Daniel Ilan – Cleary Gottlieb Steen & Hamilton; Nimat Lawal – Cleary Gottlieb Steen & Hamilton; Ashley Powell – Cleary Gottlieb Steen & Hamilton; Paul Shim – Cleary Gottlieb Steen & Hamilton; Samantha Simmons – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: Temasek;