New York, July 14, 2008—Shearman & Sterling represented Bonten Media Group, an affiliate of Diamond Castle Holdings, LLC, in its agreement to acquire NewsChannel 5 Network, LLC, an affiliate of Landmark Communications.

Diamond Castle Holdings is a private equity investment firm founded in 2004 by five former managing directors of DLJ Merchant Banking Partners that focuses on investments in the power, financial services, media and communications, healthcare, and industrial sectors. Landmark is a privately held media company headquartered in Norfolk, VA, that specializes in cable television, broadcast television, print publishing and internet publishing.

Principal M&A attorneys on the transaction are New York-based partner Stephen Besen and associates Andrew Noreuil, Jessica Nielsen and Kim Simmonds. Other Shearman & Sterling attorneys involved in the transaction are partners Don Lonczak (NY-Tax) and Monica Holland (NY-Finance), of counsel Clarence W. Olmstead Jr. (NY- Property), counsel Samuel Waxman (NY-Intellectual Property), counsel Jason Pratt (NY-Property-Environmental), and associates Wade Sutton (Washington-Tax), Kenneth Hemler (NY-Executive Compensation & Employee Benefits), Molly Stark (NY-Executive Compensation & Employee Benefits), Sharon Herman (NY-Intellectual Property), Keith Tagliavia (NY-Property), Aurora Alvarez-Calderon (NY-Property), Seth Kerschner (NY-Property-Environmental) and J.D. Siegel (NY-Asset Management).

For additional information contact:
Ron Brandsdorfer | New York | T +1.212.848.5081 |