The Prague office of Clifford Chance is pleased to announce its leading role as legal advisors in facilitating the acquisition of Respekt Magazine by a joint venture entity formed by Slovak Denník N, Independent Press Foundation, Aegis Foundation, and the dedicated editorial team of Respekt. Clifford Chance has played a pivotal role by providing comprehensive legal advisory services to ensure the smooth execution of this transaction. The closing of this remarkable deal on the Czech media scene is scheduled for November 1, 2023.
This deal carries exceptional importance, not only due to its commercial aspects but also for the commitment to pro bono work that underlies it. Emil Holub, a Partner at Clifford Chance, expressed his enthusiasm for the project, stating, “I am delighted to have been a part of this transaction. Clifford Chance has devoted substantial pro bono efforts to facilitate this acquisition and provide invaluable support to Independent Press Foundation. As a testament to our dedication to this collaboration, we are proud to have contributed to this acquisition, further supporting the Czech independent media scene.”
Pavel Volčík, the Chairman of the Board of Directors of Respekt Media a.s., the new owner of Respekt Magazine added: “On behalf of the entire editorial team, I would like to express our thanks to Clifford Chance team for their hard work on this project. For us it is a great step towards maintaining independent nature of our magazine and we are glad that the ambitious time frame which we have set up for the completion of the acquisition has been achieved.”
Respekt is an independent weekly magazine that offers insightful commentary on current events in domestic and international politics and economics. Since 1989, it has been a continuous source of information, covering politics, economics, history, social issues, trends, and closely following advancements in science and research. The magazine also places significant emphasis on cultural topics and enjoys contributions from numerous prominent figures. Respekt’s editorial work consistently garners prestigious journalism awards such as the Ferdinand Peroutka Award, the Karel Havlíček Borovský Award for journalistic creativity, and the Tom Stoppard Award. In addition, Respekt’s photographers consistently secure top placements in the Czech Press Photo competition.
The Clifford Chance team was led by Associate Ondřej Dolenský and supervised by Partner Emil Holub. The core team further consisted of Junior Lawyers Jiří Krejča and Šimon Vaněk.