Onlyfans Welcomes Legal Heavyweight Amid Potential $3 Billion Deal

OnlyFans Bolsters Legal Team with Skadden Veteran

OnlyFans is making waves in the business world by hiring Skadden superstar David Eisman to lead its legal operations. With over 20 years at the firm, Eisman is known for his expertise in media and entertainment mergers, making him a perfect fit for OnlyFans as it navigates advanced talks to sell a minority stake. Bloomberg News reports this deal could value the company at a whopping $3 billion – an LA-style blockbuster for sure.

David Eisman Joins Amidst Big Changes

Eisman, previously the head of Skadden’s media and entertainment group, is well-versed in high-profile deals. He’s made headlines by advising on major moves like the sale of DreamWorks Studios to Paramount Pictures and Shamrock Capital's purchase of Taylor Swift’s master recordings. "I am thrilled to join OnlyFans at such a pivotal moment in its growth," Eisman said in a statement. "I look forward to working with the OnlyFans team to support the creator community and expand opportunities for direct audience engagement and content monetization."

“I am thrilled to join OnlyFans at such a pivotal moment in its growth,” Eisman said in a statement. "I look forward to working with the OnlyFans team to support the creator community and expand opportunities for direct audience engagement and content monetization."

History and Future of OnlyFans

Founded in 2016, OnlyFans boasts over 4 million creators and a massive following of 377 million users worldwide. However, its journey hasn’t been without bumps – including legal challenges over consumer fraud and privacy issues. The recent passing of its billionaire owner, Leonid Radvinsky, has sparked renewed interest in a potential sale. With Eisman stepping in as general counsel, succeeding Craig Hubble, the company seems poised for its next chapter. Current CEO Keily Blair praised Eisman, calling him "a seasoned professional, respected across the tech, media, and entertainment sector."

OnlyFans has leaned on several legal powerhouses, including Skadden and Orrick, Herrington & Sutcliffe, where Blair cut her teeth before joining the company. Hubble, who only took over as general counsel in September 2023, plans to stay on as senior litigation counsel. As Eisman prepares to start in the coming weeks, all eyes are on how this legal shakeup will influence OnlyFans’ future.