CMS, Proskauer Rose and Shearman & Sterling have picked up lead roles on a new £300 million partnership between the BBC and U.S. media giant Discovery, which will see the creation of a new streaming service, and the separation of UKTV. 

CMS, led by partners Selina Potter and Simon Morgan, advised BBC Studios across all aspects of the partnership agreement, while Discovery turned to a New York-based Proskauer team led by partner and TMT group co-head Rob Freeman and partner Rob Day.