![]() ![]() ‘The pandemic forced in-house counsel to think out of the box while increasing flexibility,’ reported one in-house lawyer. Additionally, the new work-life format–particularly the explosion in remote working–has demonstrated the efficiency of in-house lawyers as key advisors even when out of the office. The pandemic has accelerated trends that were already present pre-pandemic and provided the opportunity to change the way legal teams operate, as well as contribute to their ability to adapt. General counsel acted rapidly and advised the board to provide added value to the companies, navigating an unprecedented crisis and all the risks that came with it. ![]() During the Covid-19 pandemic, businesses routinely turned to in-house counsel as strategic partners and trusted advisors. Thanks to the partnership between legal counsel and business partners, Benelux has managed not to be highly impacted by the pandemic when compared with other European regions.īenelux’s legal teams have demonstrated themselves to be resilient and innovative, finding original solutions to overcome challenges and promote the long-term growth of their internal clients. Even during the challenges brought by the pandemic, the in-house legal teams within the region have acted following the objectives of their organisations, engaging in blockbuster deals, and increasing growth. Now a dynamic economic and political union that attracts international business thanks to its strategic location and modern infrastructure while simultaneously boasting world-class home-grown companies, the outlook for Benelux is a rosy one. The Benelux nations, despite their own unique histories, have a long history of working together. The seat at the table is today a reality for general counsel, with business partners turning to their legal departments for advice on critical areas such as commercial, reputational, sustainability, and risk management. This year’s The Legal 500 GC Powerlist: Benelux 2022 stresses how in-house legal counsel in Belgium, The Netherlands and Luxembourg have adopted a more strategic position over the tumultuous last two years, taking an active part in the decision-making process at the highest level of their corporations. The increased requirements of disclosure and compliance for companies have led the role of the general counsel to go through significant changes in the scope of their role – from being legal advisors to becoming proper business partners. Insider identified 12 SPACs worth watching in media, telecommunications, and entertainment.With heightened attention from shareholders, stakeholders, and regulators, companies are facing unprecedented scrutiny. Employees were told those laid off would not be replaced by newcomers.It is one among a growing list of media companies that have either gone public via a SPAC, or intend to do so, in the future. Founder Shane Smith would keep executive chairmanship.Vice Media didn't immediately respond to Insider's request for comment.The American-Canadian company laid off a handful of staffers from its leadership team as part of a restructuring earlier this year. The regulator has been warning would-be SPAC dealmakers of the risks and complexities associated with mergers, as tainted projections are often used to pitch deals.7GC plans to pitch Vice's multiple revenue streams to draw in investors, such as its Virtue ad agency, Vice Studios film and TV production arm, and women-focused brand Refinery29, WSJ said.Under the proposed deal, CEO Nancy Dubuc would retain her position along with other executives. ![]() Leeney's SPAC, combined with other new investors, would own the remaining 25%.There's no guarantee a deal could be reached at the moment, as there has been no definitive agreement as yet.The SPAC boom that saw red-hot activity in 2020 has been losing steam given an increase in scrutiny from the Securities and Exchange Commission. Holdings, WSJ said, citing sources.Vice's existing investorsTPG, Walt Disney, and A&E Networkswould own 75% of the digital media company upon completion of the deal. The media company could combine with former Morgan Stanley executive Jack Leeney's SPAC, 7GC & Co. ![]() Summary List PlacementVice Media, a youth-focused digital publisher, is in discussions to merge with a special-purpose acquisition company in a deal that could value it at $3 billion, the Wall Street Journal reported on Monday.That would be a discount from Vice's $5.7 billion valuation four years ago when it secured a $450 million infusion from private-equity firm TPG Capital. ![]()
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