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)

Why Some Consider the New Crisis to be European Banks
54:15 - European lenders have so much access to funding that worries about the failure of a large global bank haven’t kept Goldman Sachs Group Inc. from dealing with them, Chief Executive Officer Lloyd Blankfein said. “By and large, we haven’t been that worried about the big global banks, but I won’t write a blank check on that,” Blankfein said Tuesday at an investor conference in Miami. Alvine Capital Management Investment Committee Chairman Stephen Isaacs discusses the outlook of the European banking sector with Bloomberg’s Manus Cranny and Anna Edwards on “Countdown.”
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