Business Journal makes its case for L.A.’s top lawyers who shepherd the biggest M&A deals.
GORDON BAVA, 63
FIRM: Manatt Phelps & Phillips LLP
LAW SCHOOL: USC
CLIENTS: East West Bank, Sucampo Pharmaceuticals Inc., Capital Source Inc., Friedman Billings Ramsey
Gordon Bava is known as one of the town’s veteran corporate dealmakers, but he made news this year wearing a different hat. As chairman of local TV station KCET, he was point man on the controversial decision to cut off the station’s ties with PBS in January.
Deciding that PBS’ $7 million per year asking price for programming would cripple the station, he orchestrated the relaunch of KCET as the largest public station in the country independent of PBS. That required further dealmaking as he oversaw the sale of the company’s studio and office facilities to repay outstanding debt, and worked out a new strategic plan.
The move drew heated criticism, but Bava maintains it was the best decision for the station.
“Nobody likes to be yelled at when you go out to dinner – I was struck by how loyal some of the fans are to certain programs,” he said. “But I think we are fulfilling our mission in presenting what happens in Los Angeles to the rest of the world, and in bringing the world to Los Angeles in terms of news programming.”
At West L.A. firm Manatt Phelps & Phillips LLP, where he has worked for 37 years, Bava chairs the business, finance and tax division. In the1980s, he refinanced a fleet of cargo airplanes for Flying Tiger Line.
“There were individual transactions for each one of the planes all happening concurrently,” he said. “Just coordinating that whole process was challenging.”
Earlier this year, he led the acquisition team for Sucampo Pharmaceuticals Inc.’s purchase of a multinational intellectual property holding company. In August of last year, he advised Pacific Capital Bancorp on its $500 million recapitalization, which prevented a regulatory seizure.
Bava lives in West Los Angeles with his wife, and likes to ski, golf, and dote on his toddler granddaughter in his free time.
