We distinguish ourselves in the legal services we provide to the global communications market based on our deep understanding of the telecommunications and space businesses. We are a worldwide leader in delivering these legal services because we combine detailed industry knowledge with extensive experience in corporate and financial transactions around the globe.
In recognition of our leadership in the telecommunications and space industries, Milbank has been awarded numerous awards from top industry publications. For example, Satellite Finance magazine named Milbank “Law Firm of the Year” for three years running (2007, 2006 and 2005) and Chambers & Partners, in its rankings of US law firms, identified Milbank as “the predominant law firm for telecom finance.”
Our international communications team consists of lawyers from our corporate, finance and tax groups who are experienced in the legal and business issues arising in telecoms and space transactions. We counsel a wide variety of international clients in every facet of communications transactions, including wireless, fixed-line, space and satellites, submarine cables and cable television, as well as intellectual property and regulatory issues arising in those transactions. We also advise parties in the media sector, including in the newspaper, magazine, motion picture, radio and television industries.
Within these industries, we focus in particular on M&A, private equity, capital markets and bank financings, as well as financial restructurings and bankruptcies. In addition, we advise industry participants on regulatory and licensing issues and select commercial contracting matters.
Telecommunications and Media
The attorneys who focus on our worldwide telecommunications and media practice are drawn from every practice group and office in our firm and constitute an integrated group with great industry expertise that is put to use for our clients every day. We feel that our coordinated and focused approach to the industry – in which we ensure that our experience is harnessed for the client’s benefit -- distinguishes us from other law firms. What does this mean in practice? It means clients working with a partner who has the industry contacts and strategic expertise, and associates who do not need “on the job training” – when conducting due diligence or contract negotiations, they are already familiar with industry standards, and that leads directly to cost efficiency for the client.
We have been involved in some of the most significant and prominent transactions in the communications and media sectors in recent years, and regularly win “deal of the year” or “law firm of the year” awards from leading industry publications.
We counsel all parties in transactions involving wireless, fixed-wire and submarine cable systems, the Internet and other high-technology equipment and applications, as well as media transactions ranging from traditional publications to radio, television and movie production.
In particular, we focus on representing:
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Private equity investors and financial sponsors in investments in the communications and media sectors, as well as the commercial banks that customary finance such investments
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Telecom operators and other companies as borrowers and issuers in equity and debt capital markets offerings and in project financings, long-term capital borrowings and acquisition financings
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Investment banks, commercial banks, export credit agencies and multilateral agencies as underwriters and lenders in all financings in these sectors
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Strategic investors in significant acquisitions and joint ventures in the communications and media sectors, in both domestic and cross-border transactions
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Equipment suppliers and their customers in large equipment supply and installation contracts and the associated vendor financing facilities
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Contracting parties in complex commercial arrangements, including interconnection agreements, subsea and terrestrial cable IRU agreements
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Parties in restructurings and other financial distress situations, including bankruptcy proceedings and acquisitions of assets in such situations
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Submarine fiber optic cable system operators and cquirors of such systems, including in licensing, permitting, installation and other development matters
We represent telecom operators ranging from NTT in Japan to Telemar in Brazil, and commercial banks active in the communications and media sectors such as ABN AMRO, Citibank, Deutsche Bank, JPMorgan Chase and many others.
For more information on how we can assist you in the telecoms and media sectors, please contact Glenn Gerstell, the global practice area leader, or the designated partners in our offices worldwide.
Space and Satellites
The Space Business Group’s strength lies in our active involvement in the commercial space marketplace. We differentiate ourselves from other full-service law firms by bringing to bear that experience when we counsel satellite companies, aerospace manufacturers and financial institutions in structuring and implementing space projects around the world. Focused exclusively on the space and satellite sector, the Group is a multidisciplinary team concentrating in:
- commercial space industry contracts
- satellite finance, corporate and M&A
- space insurance and risk management
- international and domestic legislative and regulatory matters
- intellectual property, litigation and arbitration
- financial restructurings
More than 100 Milbank professionals have provided Space Business Group support recently in such areas as:
- joint ventures
- general corporate
- private equity and debt placements
- structured finance
- investment grade and high yield capital markets offerings
- project finance
- lease financing
- initial public offerings
- commercial arbitration and litigation
- taxation
- insurance coverage issues
- financial restructuring and bankruptcy
- competition law
- intellectual property, including patents and trademarks
International satellite projects have involved all of Milbank’s global network of offices.
Core Space Industry Capabilities
Contracts
We have structured, negotiated and analyzed more than 300 satellite purchase agreements, launch services contracts, tracking, telemetry and command service and supply contracts, gateway procurement and installation agreements, transponder sale and lease agreements and communications capacity contracts involving the following manufacturers and service providers:
View satellite manufacturers.
View launch services providers.
View satellite operators.
Finance
The satellite financings we have helped negotiate have involved a range of structures, including:
- private placements of convertible debt and equity
- customer financing programs offered by manufacturers
- secured and unsecured bank credit facilities
- tax-motivated cross-border leveraged leases
- project financings
- high yield offerings under Rule 144A
- initial public offerings
More information about our recent satellite financings.
Examples of our High Yield Satellite Industry Financings.
Legislative and Regulatory
The Space Business Group combines its strong finance capabilities with significant legislative and regulatory expertise. We counsel clients on the domestic and international regulation of launch vehicles (expendable and reusable) and the services associated therewith, and satellites, their orbital slots and associated frequencies by the U.S. Federal Communications Commission and the International Telecommunication Union; and on the export and import of spacecraft and associated equipment and technical data.
More Information about our capabilities.
More Information about our international and domestic legislative and regulatory matters.
Space Insurance
We advise financial institutions and insurance underwriters and brokers regarding satellite launch, in-orbit and third-party liability risks. We work closely with satellite manufacturers and operators and launch companies in structuring risk management programs for first party loss (asset, revenue and extra expense coverages) and third party liability. We are often called upon by leading satellite operators to advise on the settlement of complex insured partial and constructive total losses, including salvage arrangements.
The more than 100 satellite insurance policies we have structured, negotiated and analyzed involve:
- Pre-launch insurance
- Launch and initial operations insurance
- In-orbit insurance
- Third-party launch liability insurance
- Spacecraft product liability insurance
- Political risk insurance
We also represent satellite operators and aerospace manufacturers in complex insurance coverage and satellite and launch vehicle non-performance dispute resolution, including international arbitration.
More Information about our space insurance and risk management matters.
Intellectual Property
Our intellectual property specialists handle every kind of technology and intellectual property matter in areas including patents, trademarks, trade secrets, copyrights, artists rights, false and misleading advertisements, counterfeit products, rights of privacy, franchise and gray market goods. Our specialists include an expanding team of patent attorneys registered to practice before the U.S. Patent and Trademark Office who are also experienced litigators. Milbank's practice includes representation in prosecuting and litigating patents for a wide variety of manufacturing and service companies in many diverse technologies. Several of our patent attorneys have extensive hands-on engineering experience in the fields of telecommunications, aerospace, signal processing and electronic controls.
In recent years, Milbank's intellectual property attorneys have represented a wide variety of companies and organizations in intellectual property matters.
More Information about our Intellectual Property practice.
Financial Restructurings
The proven strength and experience of our bankruptcy and restructuring practice combines with our space industry experience to provide multidisciplinary support to official creditors committees, financial institutions and satellite operators.
We have been involved in numerous major satellite project restructurings and bankruptcies.
More Information about our Financial Restructurings practice.