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“#Discovery’s David Zaslav promises more media merger mania at Sun Valley” SUN VALLEY, Idaho — Allen & Co.’s “summer camp for billionaires” kicked off on Tuesday with David Zaslav of Discovery promising that the media merger frenzy created by the video streaming wars is far from over. “We’re not done yet,” Zaslav said when asked…
“#Neiman Marcus weighs possible sale of Bergdorf Goodman” Bergdorf Goodman is exploring a potential sale — and one possible outcome is that it moves to a surprising address nearby, The Post has learned. Neiman Marcus, which has owned the storied Fifth Avenue luxury mecca since 1972, has been interviewing bankers, including for a possible sale,…
“#Yum! and 7-Eleven franchisee Ampex Brands buys Au Bon Pain” Yum! Brands and 7-Eleven franchisee Ampex Brands has purchased bakery and cafe chain Au Bon Pain, helping to expand its international reach. Financial terms were not disclosed. The seller was Panera Bread, part of privately held JAB Holding Co., which owns a range of companies…
“#Roku, ViacomCBS shares rise on report that Comcast is eyeing deal” Comcast is looking for new ways to expand its streaming footprint — and Roku and ViacomCBS are possible acquisition targets, according to a report. Comcast chief executive Brian Roberts is “wrestling” with the idea to either “build or buy” to become a streaming giant,…
“#Amazon’s deal to buy MGM faces FTC antitrust probe: report” Amazon’s deal to buy MGM, the movie studio behind the James Bond franchise, is facing antitrust heat from the Federal Trade Commission, according to a new report. The FTC’s new chairwoman, Lina Khan, a 32-year-old legal prodigy who most recently was a professor at Columbia…
“#DOJ sues to block AON’s $30B acquisition of rival Willis Towers Watson” The Biden administration has sued to block the merger of two of the world’s largest insurance brokers, asserting the deal could eliminate competition, raise prices and hamper innovation for US businesses, employers and unions that use the companies’ services. The Justice Department on…
“#Spotify buys startup whose backers include Katie Couric, Paris Hilton” Spotify said Friday that it has acquired Podz, a tech startup backed by the likes of Katie Couric and Paris Hilton. According to the Swedish music streaming giant, Podz will help the company “accelerate” its growing podcast business through its machine-learning algorithms, which help users…
“#Ad spending expected to hit new highs post-COVID” The advertising market is poised for a major rebound as the pandemic wanes, according to a new report. US advertising sales are expected to hit a new all-time high of $259 billion this year — up 12.5 percent — while global advertising spending is seen hitting a…
“#Buzzfeed looks to raise $200M to buy Complex Networks: report” BuzzFeed is in talks to raise about $200 million in convertible bonds in order to make an offer to buy lifestyle publisher Complex Networks, according to a new report. The $200 million raise would come as BuzzFeed is trying to go public via a special…
“#Bristol-Myers Squibb sued for $6.4B over delayed cancer drug” Bristol-Myers Squibb was sued for $6.4 billion on Thursday for allegedly delaying its Breyanzi cancer drug to avoid payments to shareholders of the former Celgene, which the drugmaker bought in 2019. According to a complaint in Manhattan federal court, Bristol-Myers failed to use contractually required “diligent efforts”…