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Big Law

MediaCloud successfully sells to Telstra subsidiary

McGrathNicol’s cloud-based broadcasting platform MediaCloud has been successfully sold to a Telstra Corporation subsidiary. 

July 02, 2021 • By Naomi Neilson
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MediaCloud successfully sells to Telstra subsidiary
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Firm: Maddocks (McGrathNicol) 

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Deal: Maddocks has advised McGrathNicol partners Barry Kogan and Jonathan Henry, the administrators of cloud-based broadcasting platform MediaCloud, on its sale to Telstra Broadcast Services Pty Ltd. 

 
 

Value: N/A.

Area: Technology, restructuring and insolvency. 

Key players: The team was led by restructuring and insolvency partner Danielle Funston and special counsel Andrew Ng. The team also included Duncan Hall, Maree Skinner and Bernardo Wood. 

Deal significance: The MediaCloud platform is used for the preparation and delivery of media content to numerous broadcasters, including SBS, for content delivery. 

Ms Funston commented: “This is a restructuring that should be celebrated.

“We were able to achieve a true continuity of business, with all employees transferring to Telstra Broadcast Services Pty Limited. Service to SBS and other national broadcasters remained uninterrupted, and we were successful in securing a deal that is expected to pay unsecured creditors in full.” 

Naomi Neilson
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly, as well as other titles under the Momentum Media umbrella. She regularly writes about matters before the Federal Court of Australia, the Supreme Courts, the Civil and Administrative Tribunals, and the Fair Work Commission. Naomi has also published investigative pieces about the legal profession, including sexual harassment and bullying, wage disputes, and staff exoduses. You can email Naomi at: naomi.neilson@momentummedia.com.au.
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