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5 December 20223 minute read

Entertainment veteran Richard Petretti joins DLA’s MSE group

DLA Piper continues its growth in Southern California with the addition of Richard Petretti in the firm’s Media, Sports and Entertainment practice. Petretti is the fourth partner to join the Los Angeles office in the last two months.

Petretti has extensive experience as a finance lawyer with a particular emphasis in the media and entertainment industry, including secured and unsecured film, television and music financings, production and acquisition facilities for slates and single-pictures, library-backed financings and music catalog financings and financing for companies providing services to the entertainment industry in lending, debt restructurings and corporate matters. Petretti advises banks and other major financial institutions as well as major studios, mini-majors, independent film companies, joint ventures and special purpose entities.

Petretti’s media and entertainment transactions include representing JPMorgan as administrative agent in an US$825 million syndicated secured revolving credit and first-in/last-out term loan facility for Regency Entertainment; and advising a major independent television production company as borrower on two credit facilities aggregating nearly US$100 million to finance production of two new network television series.

Petretti’s finance practice also extends beyond the entertainment world, with extensive experience representing clients across a broad range of other industries and asset classes, including financial services, healthcare, satellites, undersea fiber optic cables, hospitality, aviation, shipping, energy, chemicals and infrastructure.

Recent non-entertainment transactions include representing Cantor Fitzgerald LP and its affiliates BGC Partners, Inc. and Newmark Group, Inc. as borrowers under separate syndicated revolving credit agreements totaling US$1.4 billion; the lender on term and revolving credit facilities in connection with the merger of a U.S.-based specialty in vitro diagnostics company with a leading molecular diagnostics company based in the Czech Republic; and the administrative agent on an US$80 million credit facility to finance the spinoff of a contract drug development and manufacturing organization.

“Richard’s background and skillset will be an immediate asset to our existing clients, as well as an attractive addition for prospective clients. We are delighted to have such a highly respected practitioner join our expanding team,” said Tom Ara, US and Global co-chair of DLA Piper’s Media, Sports & Entertainment Finance & Transactions practice.

“Richard is the latest arrival in DLA’s strategic expansion on the west coast,” said Angela Agrusa, managing partner of the firm’s Los Angeles offices. “We have added a dynamic group of attorneys to our L.A. roster in the last few months and are excited to have Richard join our team.”

Throughout his career, Petretti has received numerous honors and distinctions, including being recognized by Variety in both the "Legal Impact" and "Dealmakers Impact" reports and by the IFLR1000 as a “Notable Practitioner.”

DLA Piper's market-leading international team of media, sport and entertainment lawyers, located throughout the Americas, Asia Pacific, Europe, Africa and the Middle East, advises on M&A, finance, borrowing, investment and corporate issues, production and rights acquisitions, exploiting media rights, staging and exploiting live sports and other events, intellectual property protection and enforcement, regulatory and administrative issues, antitrust and competition law, stadium and arena development and on the resolution of disputes.