Travers Smith LLP has advised newly formed International Literary Properties (ILP) on its major acquisition deal of 12 literary estates from one of the longest-established literary and talent agencies in the UK, Peters, Fraser + Dunlop.
The eight figure multi-estates deal sees ILP acquire the rights formerly held by the agency for the literary estates of writers: Georges Simenon, Eric Ambler, Margery Allingham, Edmund Crispin, Dennis Wheatley, Robert Bolt, Richard Hull, George Bellairs, Nicolas Freeling, John Creasey, Michael Innes and Evelyn Waugh.
ILP was set up to acquire the rights in literary estates from those who have inherited them, or from living authors seeking financial certainty from an experienced and engaged buyer. This deal is the first major slate of acquisitions announced by ILP, which will proactively manage the estates it buys or buys into, working with agents to support their exploitation across all media platforms.
The Travers Smith team was led by IP, Technology & Data Partner Louisa Chambers and included Corporate Partner Jon Reddington, Corporate Senior Associate Ben Lowen, Corporate Associate Sophie Gayle-Farlow, Tax Partner Jess Kemp, Tax Senior Associate Tom Rickford, Incentives & Remuneration Senior Associate Kevin Donegan and Trainee Tom Hunt.
Louisa Chambers commented: "We are delighted to have completed such an interesting and strategically important literary estates deal for brand new client, International Literary Properties. This deal was negotiated and completed almost entirely whilst in "lockdown" and is another demonstration of Travers Smith's versatility and absolute commitment to getting a job well done for our clients, whatever the challenges. ILP has an enviable and impressive executive team and we look forward to seeing the exciting new ways that they will find to tell the classic stories hidden within the estates they have purchased."
Hilary Strong, CEO for ILP UK, says: “The acquisition of Peters, Fraser + Dunlop’s interests in these estates is a very important step for us in building the business. International Literary Properties was formed late last year, bringing together an incredible team with many decades of experience in literary, TV, film, music and theatre management and exploitation. This major acquisition plays to the team’s experience and strengths and I am truly excited by the opportunity to nurture these twelve wonderful estates and to find new and exciting ways of telling the great stories that lie within them. We are particularly grateful to our legal team. Travers Smith handled ILP’s complex transaction with speed, skill, and a deep understanding of the nuances of a dynamic deal with many moving parts”