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)
Lower for Longer Being Priced In to Oil Market: Wilson
37:59 - Andrew Wilson, chief executive officer for EMEA at Goldman Sachs, and Bloomberg's Javier Blas discuss Shell's second-quarter results as the company announces 6,500 job cuts while reaffirming its dividend commitment and examine how lower prices are impacting the oil industry. They speak on "On The Move." (Source: Bloomberg)
  • InterContinental Seeing 'Momentum in Business': CEO
  • Shell CEO Sees Oil Rising to $70 to $90 in 'Long Run'
  • Shell to Cut 6,500 Jobs, Reduce Investment by $7B