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)

Vacheron Constantin Makes Online Debut With $45K Watches
23:32 - Luxury watchmaker Vacheron Constantin partnered with the online magazine for wristwatch enthusiasts Hodinkee to make its online debut. The $45,000 watch sold out in under an hour. Bloomberg's Cory Johnson sat down with Vincent Brun, president of Vacheron Constantin North America, and Benjamin Clymer, founder of Hodinkee, to discuss the partnership. (Source: Bloomberg)
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