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)
Areva to Cut Costs as It Braces for Further Cash Outflows
05:54 - March 4 -- Areva said it will slash costs, pare investments, and sell assets as it braces for additional losses at three large projects in 2015. Bloomberg Intelligence's Elchin Mammadov has more on "Countdown."
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