Hints and tips:
...But the sale of Simon & Schuster has become a page turner....
...That compares with a $2.2bn valuation in the failed PRH deal in 2020 but the broader financial backdrop has darkened considerably....
...Simon & Schuster fetched a price far in excess of initial estimates two years ago, in part because Bertelsmann saw clear financial advantages from cementing its position as the world’s biggest book publisher...
...acquisition of gaming company Activision Blizzard, Lockheed Martin’s planned $4.4bn acquisition of US missile products supplier Aerojet Rocketdyne, and the $2.2bn merger of Penguin Random House and Simon & Schuster...
...“I know sneakers are a big business, but on an issue of anti-Semitism this cannot be an obstacle for doing the right thing,” the council’s president Josef Schuster told the Financial Times, calling the issue...
...“We are very confident that this transaction will be cleared . . . otherwise we would not have taken the decision,” Bertelsmann chief executive Thomas Rabe told the Financial Times last year....
...The bank has struggled to meet key profitability targets since the financial crisis....
...“This is a high-quality asset, it is a scarce asset, and we knew that other publishers would look at it, and they did,” Bertelsmann chief executive Thomas Rabe told the Financial Times....
...“Simon & Schuster is a relatively small player in a fragmented market place,” he told the Financial Times, noting that the combined group would have a smaller market share than at the time of the Penguin...
...Thomas Rabe, the Bertelsmann chief executive, has publicly expressed his interest in Simon & Schuster and is planning to make an offer this week, potentially with private equity group Atairos as a financial...
...Thomas Rabe, Bertelsmann’s chief executive and chairman, told the Financial Times in September that he was interested in buying Simon & Schuster and the German group is expected to bid this week, potentially...
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...“Given this position we would, of course, be interested in Simon & Schuster.”...
...A report from the Financial Stability Board said the market “dysfunction”, which could’ve spiralled into a full on financial crisis without intervention from the Fed, was “exacerbated” by hedge funds unwinding...
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...(FT) Apple plans self-driving car Apple Inc is targeting 2024 to build self-driving car technology that could include its own breakthrough battery technology, people familiar with the matter told Reuters...
...The story of the audiobook boom is not just a financial one, though: it is one of the unexpected effects that technology has had on us — and of our need to escape technology....
...Two Sigma, the quantitative hedge fund, made headlines in April when it emerged that it had recruited data scientist Mike Schuster from Google to expand artificial intelligence....
...Last month, the bank brought in a new chief information officer, Bridget Engle, from Bank of America....
...There, she finds that the financial incentives generated by Cleveland’s unusual (for the US) partnership structure play a pivotal role. Personally, I am a believer in the power of ideas....
...by the Financial Times....
...Nor were the concessions entirely novel: he had already done a similar deal with another publisher, Simon & Schuster....
...It still has to contend with the world’s largest publisher by sales, Penguin Random House (part-owned by Pearson, owner of the Financial Times)....
...Earnings margins have risen to their highest level in a decade at the book publishing divisions of CBS and News Corp (they own Simon & Schuster and HarperCollins, respectively)....
...Apple and five publishers – Hachette, HarperCollins, Holtzbrinck, Simon & Schuster and Penguin (the latter at the time wholly owned by Pearson, which also owns the Financial Times) – have abandoned those...
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