Penguin's Lawyer: Costs of E-Books Drove Deal

Nov. 20 (Bloomberg) -- Uncertainty over how much book publishers will have to invest in e-book delivery platforms -- which could be substantial -- was a driving force behind the decision of Pearson's Penguin and Bertelsmann's Random House to merge, Morgan, Lewis & Bockius partner Charles Engros tells Bloomberg Law's Spencer Mazyck. He represented Penguin in the deal, which was announced in late October. In the last year, his firm's media M&A practice has also represented Reed Elsevier in the sale of the entertainment trade publication Variety and the New York Times in its sales of About.com and its interest in the Boston Red Sox. (Source: Bloomberg)

Yahoo to Sell Web Business to Verizon for $4.8 Billion
43:00 - Yahoo! Inc. has reached a $4.8 billion agreement with Verizon Communications for its main web business in an all-cash deal that excludes Yahoo's stakes in Yahoo Japan Corp. and Alibaba Group Holding. Bloomberg's Alex Sherman has the details on "Bloomberg ‹GO›." (Source: Bloomberg)
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