The Justice Department sued to block Bertelsmann’s Penguin Random House’s proposed $2.175 billion purchase of Simon & Schuster from ViacomCBS, delaying one of the entertainment company’s moves to reduce its debt. The DOJ noted that Penguin Random House is the biggest book publisher, while Simon & Schuster is the fourth biggest in the U.S. their combined revenues would be “twice that of...
DOJ Sues to Block Bertelsmann’s Acquisition of Simon & Schuster From ViacomCBS
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Musk Puts $20 Billion Value on Twitter
Elon Musk offered Twitter employees stock grants at a valuation of roughly $20 billion, said a person familiar with an email Musk sent to staff, less than half what he paid to buy the company. It was a concrete acknowledgment of how much Twitter’s value has dropped since the deal—but it is still well above public market valuation levels for Twitter’s rivals. As Musk has...
Twitter Valued at $20 Billion in New Employee Stock Grant
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