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“#Forbes to become public company through $630M SPAC merger” Forbes Global Media, the publisher of Forbes magazine, said Thursday that it will go public through a merger with a blank-check acquisition firm in a deal that values the combined entity at $630 million. The company said it will merge with special purpose acquisition company Magnum…
“#German publisher Axel Springer strikes deal to buy Politico” German publishing giant Axel Springer said Thursday it has struck a deal to buy the US-based, politics-focused news site Politico. The companies didn’t disclose a sale price, but reports have valued the deal at about $1 billion. Reports of a potential deal leaked out earlier this…
“#Topps deal to go public scrapped after MLB ends 70-year-old trading card deal” A deal to take the Topps Co. public has been scrapped after Major League Baseball said it won’t renew its exclusive, 70-year-old relationship with the trading-card company. On Friday — a day after MLB announced its surprise decision to jilt Topps in…
“#ViacomCBS sells ‘Black Rock’ headquarters in NYC for $760M” ViacomCBS has sold CBS’ original Midtown Manhattan headquarters, known as “Black Rock,” to real estate investment firm Harbor Group International for $760 million. The deal, which was announced late Monday, comes nearly two years after the media company merged Viacom and CBS. Soon after, the newly…
“#Axel Springer reportedly in talks to buy ownership stake in Politico” Axel Springer is in talks to buy an ownership stake in Washington-based news publisher Politico, according to a report late Monday. The deal talks may include a full buyout of Politico, the Wall Street Journal said, citing anonymous sources. The talks could also fall…
“#Adidas sells Reebok to Authentic Brands for $2.5 billion” Adidas is selling Reebok to Authentic Brands Group for up to 2.1 billion euros ($2.5 billion) as the German sporting goods company concentrates on its core brand after a deal that did not deliver. Adidas bought Reebok for $3.8 billion in 2006 to help compete with arch-rival Nike,…
“#AT&T’s WarnerMedia in talks to sell TMZ to Fox: report” AT&T is in talks to sell WarnerMedia’s popular celebrity gossip site TMZ to Fox, according to a report from The Information. The move comes as AT&T has inked a $43 billion deal to spin off its WarnerMedia entertainment division to Discovery, owner of TLC, Animal…
“#Samsung exec Jay Y. Lee expected to leave prison Friday” Samsung Electronics vice chairman Jay Y. Lee, in jail after convictions for bribery, embezzlement and other charges, has qualified for parole and is expected to leave prison this Friday, South Korea’s justice ministry said. But he still has other serious legal woes. Prosecutors argue the 2015 $8 billion merger of…
“#Penn National to buy sports-betting firm Score Media for $2 billion” Penn National Gaming will buy Canadian sports-betting firm Score Media and Gaming for nearly $2 billion in cash and stock, the companies said on Thursday. The deal comes on the heels of a new betting bill that was passed recently in Canada, aiming to legalize betting…
“#AT&T completes spinoff of its shrinking DirecTV unit” AT&T has completed its spinoff of struggling satellite TV provider DirecTV in a deal backed by private-equity firm TPG. Earlier this year, the telecom giant announced the sale, which valued DirecTV and other satellite properties at $16.25 billion — a fraction of the $48.5 billion AT&T shelled…