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)
China Banks to Have 'Negative' Growth: Mizuho's Antos
12:51 - Jim Antos, an analyst at Mizuho Securities Asia Ltd. in Hong Kong, talks about China's banks. China Construction Bank Corp. joined the club of big Chinese banks reporting zero profit growth and rising bad loans as the government struggles to prop up the economy. Antos speaks with Rishaad Salamat on Bloomberg Television's "Trending Business." (Source: Bloomberg)
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