#merger
#merger

FTC greenlights Exxon-Pioneer megadeal with a caveat. It's still a good sign for energy mergers

The FTC approved Exxon Mobil's acquisition of Pioneer Natural Resources but prohibited the former Pioneer CEO from Exxon's board due to allegations of collusion with OPEC. [ more ]

Fast Company

Trump awarded another $1.8 billion worth of Trump Media stock

Former President Donald Trump secures additional $1.8 billion worth of shares in Trump Media, bringing total ownership to $5.7 billion. [ more ]

Eater Chicago

Foxtrot, Dom's Kitchen & Market Closing All Locations

Foxtrot and Dom's Kitchen & Market merger leads to bankruptcy and store closures. [ more ]

Chicago Tribune

Radio giant Audacy, which owns WBBM, Score 670, WXRT and other Chicago stations, files for Chapter 11 bankruptcy

Audacy, the nation's second largest radio chain, has filed for Chapter 11 bankruptcy in order to reduce its $2 billion debt.

The bankruptcy is a result of the pandemic, revenue declines, and debt from a previous merger with CBS Radio. [ more ]

time.com

Disney, Reliance Sign $8.5 Billion Deal to Merge India Media Operations

Walt Disney Co. and Mukesh Ambani's conglomerate signed a merger pact in India valued at $8.5 billion.

The joint venture will grant exclusive rights to distribute Disney films in India and bolster Reliance's streaming platform. [ more ]

WSJ

Closing of Kroger, Albertsons, C&S Deal Postponed

The merger of Kroger and Albertsons and the sale of assets to C&S Wholesale Grocers will be delayed due to discussions with regulators.

The companies now expect the deal to close in the first half of Kroger's fiscal 2024. [ more ]

WSJ

Chesapeake Energy, Southwestern Energy Sign Merger Agreement

Chesapeake Energy and Southwestern Energy are merging in an all stock-transaction valued at $7.4 billion.

The merger aims to create a premier natural gas company. [ more ]

www.npr.org

With Pitchfork in peril, a word on the purpose of music journalism

Conde Nast is merging Pitchfork with GQ, resulting in layoffs and concern for the outlet's future.

Pitchfork's remaining staff is now reduced to a skeleton crew and GQ's paywall is likely to diminish its reach. [ more ]

HuffPost

Music

Pitchfork Is Being Folded Into Men's Magazine GQ, Triggering Layoffs

Pitchfork, the online music publication, is being folded into men's magazine GQ as part of a merger by parent company Condé Nast.

The merger has led to some layoffs, including the editor-in-chief of Pitchfork, Puja Patel.

The Pitchfork Union, organized under the NewsGuild of New York, condemned Condé Nast's handling of the situation and expressed concern about the future of the publication. [ more ]

www.nytimes.com

Music

Conde Nast Is Folding Pitchfork Into GQ, With Layoffs

Conde Nast is merging Pitchfork with GQ, leading to layoffs at the online publication.

Puja Patel, the editor in chief of Pitchfork, is among the casualties of the merger. [ more ]

Boston.com

JetBlue's $3.8 billion buyout of Spirit Airlines is blocked by judge citing threat to competition

The Biden administration is blocking JetBlue's $3.8 billion deal to acquire Spirit Airlines, citing reduced competition and potential fare increases.

This ruling marks the second major setback for JetBlue in federal court in less than a year, following the termination of a partnership with American Airlines last year. [ more ]

Eater Chicago

Jewel-Mariano's Parent Companies' $25 Billion Deal Delayed

Opposition is building against the merger between Jewel and Mariano's parent companies, with one state filing a formal challenge and Washington state's attorney general filing a lawsuit to block the deal.

The federal government is expected to announce in February whether the creation of the mega-grocery chain would violate anti-trust regulations, as fears grow that the deal would limit competition and drive up prices. [ more ]

HuffPost

US news

Judge Blocks JetBlue From Buying Spirit Airlines

A federal judge has blocked JetBlue Airways from buying Spirit Airlines in a $3.8 billion deal.

The judge agreed with the Justice Department's argument that the merger would reduce competition and drive up fares. [ more ]

The Verge

Adobe's $20 billion bid for Figma in peril after EU warning

The European Commission has issued a formal antitrust complaint against Adobe regarding its proposed $20 billion acquisition of Figma.

The Commission believes that the merger may significantly reduce competition in the global markets for interactive product design tools and editing tools.

Adobe and Figma have until February 5th to respond to the Commission's objections and address regulatory concerns. [ more ]

morecompetition

WSJ

JetBlue CEO to Step Down as Airline Awaits Judge's Ruling on Spirit Airlines Merger

Robin Hayes will step down as JetBlue Airways CEO next month

Joanna Geraghty will become the new CEO and the only woman at the helm of a major U.S. airline [ more ]

Chicago Tribune

Foxtrot will merge with Dom's in specialty grocer deal

Chicago-based grocery startups Foxtrot and Dom's Kitchen & Market are merging under a new entity called Outfox Hospitality.

The deal is expected to close in the fourth quarter.

The two companies share a common mission of modernizing the way people shop and aim to elevate the customer experience. [ more ]

Chicago Tribune

Foxtrot will merge with Dom's in specialty grocer deal

Foxtrot and Dom's Kitchen & Market will merge under a new entity called Outfox Hospitality.

The merger is expected to close in the fourth quarter.

The companies share a vision of modernizing the way people shop. [ more ]

AdExchanger

1 day ago

WBD Reasserts Its Place In Ad-Supported Streaming | AdExchanger

Warner Bros. Discovery focused on addressing skepticism around their ad sales negotiations during upfronts. [ more ]

AdExchanger

Paramount Is Buried In Shareholder Drama - But Stakes Its Future On Streaming | AdExchanger

Paramount Global's CEO absence due to shareholder pushback against a merger with Skydance Media.

Paramount is focusing on streaming and advertising growth to drive revenue amid leadership changes. [ more ]

Deadline

3 weeks ago

TelevisaUnivision Reports Flat U.S. Ad Revenue In Q1

TelevisaUnivision reported a 7% year-over-year increase in revenue, driven by direct-to-consumer proceeds and linear networks in Mexico. [ more ]

The Drum

VML boss on how the network is shaping up 100 days into its mega-merger

The merger of VMLY&R with Wunderman Thompson under the unified banner of VML aimed to create a powerhouse entity focused on delivering creative solutions to big brands.

Smooth transition and positive mindset of employees have contributed to the successful merger, with little cultural friction and enthusiasm for the new unified identity. [ more ]

Modern Retail

Research Briefing: What the delayed Kroger-Albertsons merger means for retail media

The FTC is blocking the Kroger-Albertsons merger due to concerns about rising grocery costs.

The combined Kroger-Albertsons entity could challenge Walmart Connect and offer brands a more extensive ad offering. [ more ]

Above the Law

Welcome To Biglaw: Brand New Megafirm A&O Shearman Officially Makes Its Debut

A&O Shearman formed from Allen & Overy and Shearman & Sterling, with 4,000 lawyers and $3.5 billion gross revenue. [ more ]

Above the Law

Mum's The Word On Shearman's U.S. Partner Departures Ahead Of A&O Merger

Merger aims for brand and US footprint

Majority of partner departures outside US [ more ]

Above the Law

Top Biglaw Firm Opens Its Own Office In Saudi Arabia Ahead Of Major Merger

Allen & Overy opens new office in Riyadh ahead of merger with Shearman

The firm received a license to operate in Saudi Arabia and will welcome Shearman lawyers in May [ more ]

Above the Law

Antitrust Law's Big Day

$3.8 billion merger called off due to antitrust concerns.

Department of Justice opposed merger due to antitrust violation. [ more ]

Above the Law

Biglaw Firm Launches Takeover Of Successful Litigation Boutique To Open New Texas Outpost

Steptoe has announced the opening of an office in Houston, Texas through its merger with boutique trial firm Smyser Kaplan & Veselka.

Steptoe managed to acquire SKV's office lease and all of its attorneys. [ more ]

Above the Law

DOJ Stops Airlines From Merging And Costing Us Even More

The Department of Justice has blocked the proposed merger between JetBlue and Spirit airlines.

The DOJ found that the merger would consolidate an oligopoly and harm consumers. [ more ]

Coindesk

3 weeks ago

Cryptocurrency

Bitcoin Miner Hut 8's Post-Merger Prospects Look Good: Benchmark

Hut 8 has a more diversified business model post-merger with US Bitcoin Corporation. [ more ]

Coindesk

Cryptocurrency

Bitcoin Miner Hut 8 Has Larger, More Diversified Business Model Following USBTC Merger: Canaccord

Hut 8 is more diversified post-merger with US Bitcoin Corp.

Significant flexibility with over 9,000 bitcoins in stash. [ more ]

Fast Company

3 weeks ago

Artificial intelligence

Google to 'turbocharge' its commitment to AI by integrating Android and Pixel divisions

Google is merging its Android and Chrome software division with the hardware division for better integration of artificial intelligence. [ more ]

TechRepublic

Artificial intelligence

Microsoft, OpenAI Partnership Draws UK Antitrust Regulators' Eyes

The UK's Competition and Markets Authority is investigating the connections between Microsoft and OpenAI to determine the possibility of a merger.

The CMA's decision could set a precedent for other AI companies. [ more ]

Fort Worth Star-Telegram

Dallas Cowboys

Daryl Johnston, former Cowboys star and aspiring NFL GM, heads local ties to merged UFL

Daryl Johnston is the head of football operations in the UFL, a new league formed by merging the USFL and XFL.

The UFL's base operations are in North Texas, with all eight teams practicing at local high school stadiums. [ more ]

The Art Newspaper - International art news and events

Design

Brazilian galleries Jaqueline Martins and Se merge to form Martins&Montero

Two Brazilian art galleries merge to form Martins&Montero in São Paulo and Brussels.

All staff from both galleries will be retained, and artists will transition to the new joint roster. [ more ]

The Drum

Online marketing

Truth Social stock success hinges on Trump's cult of personality - not real business value

Donald Trump's media organization Trump Media & Technology Group, including Truth Social, is set for a NASDAQ debut.

Shares of Digital World Acquisition Corp. dropped then rose after the merger vote with Trump Media & Technology Group. [ more ]

Polygon

Video games

What the heck is going on with WB Games right now?

Warner Bros. Games is focusing on live-service and free-to-play games despite the success of Hogwarts Legacy.

The company's strategy includes reviving previously offline games like MultiVersus with characters from various properties. [ more ]

www.nytimes.com

Digital life

Opinion | What the Fight Over the Capital One-Discover Merger Misses About Our Terrible Credit Card System

Capital One's attempt to acquire Discover could create a major credit card company rivaling top players like Visa and Mastercard.

Merger may lead to short-term cost reductions but could perpetuate a broken credit card system favoring the wealthy and large corporations. [ more ]

www.cbc.ca

Canada news

Some cellphone plans not as cheap as they were before Rogers-Shaw merger: Competition Bureau | CBC News

Cellphone plans in Western Canada not as cheap post-Rogers-Shaw merger

Competition Bureau concerned about lack of comparable pricing for wireless plans [ more ]

www.standard.co.uk

Education

'Don't force our primary to become a faith school', say campaigners as hundreds sign petition

Campaign launched to prevent a non-faith school in Southwark from becoming a faith school due to falling numbers.

More than 600 people signed a petition to keep Charlotte Sharman primary as a non-faith, inclusive community school. [ more ]

www.islingtongazette.co.uk

Education

'Good' school may still have to shut as bid to save 'inadequate' primary continues

Islington Council has approved a plan to merge Montem Primary School with Duncombe Primary School, despite opposition from parents.

The council cites falling pupil rolls and financial constraints as the reasons for the merger. [ more ]

www.npr.org

US news

Samsung chief Lee Jae-yong is acquitted of financial crimes related to 2015 merger

Samsung Chairman Lee Jae-yong has been acquitted of financial crimes related to a 2015 merger of two Samsung affiliates that solidified his control over the company.

This ruling comes less than two years after Lee was pardoned for a separate conviction of bribing a former president. [ more ]

Boston Condos For Sale Ford Realty

Boston

Is Realtor.com And Homes.com Merging? Get The Scoop Here Boston Condos For Sale Ford Realty

Realtor.com and Homes.com are not merging

There is a battle between Zillow.com, Realtor.com, Homes.com, and Redfin.com [ more ]

www.independent.co.uk

France news

Vodafone rejects multibillion-euro tie-up with Iliad in Italy

Vodafone has rejected a merger proposal from Iliad to create Italy's largest mobile phone business.

Iliad plans to continue strengthening its Italian business and compete with rivals for market share. [ more ]

Exchangewire

Marketing tech

Sony Calls Off Zee Merger; UK Gov Recommends Reforms for BBC Impartiality; OpenAI Strikes First Higher Education Partnership

Sony calls off merger with Zee Entertainment in India

UK government recommends reforms for BBC impartiality

OpenAI partners with Arizona State University [ more ]

MarTech

Marketing tech

Informa Tech/TechTarget merger would create a B2B data giant | MarTech

The merger between Informa Tech and TechTarget has the potential to create a B2B data giant.

The new company will have access to a large portfolio of web properties, analyst firms, and digital platforms, providing ample first-party data. [ more ]

Advocate.com

LGBT

Two major national transgender rights organizations announce merger

The National Center for Transgender Equality and the Transgender Legal Defense and Education Fund are merging to form Advocates for Trans Equality (A4TE).

A4TE aims to be a dominant force in the advocacy for transgender rights, with a focus on litigation, public education, and influencing policy. [ more ]

PinkNews | Latest lesbian, gay, bi and trans news | LGBTQ+ news

LGBT

Major trans rights groups have united to take down anti-trans movement

The National Center for Transgender Equality (NCTE) and the Transgender Legal Defense Fund (TLDEF) are merging to form a single organization called Advocates for Trans Equality (A4TE).

A4TE aims to be a powerful voice against anti-trans legislation and fearmongering, protecting trans people and perspectives in the United States. [ more ]

LGBTQ Nation

LGBT

Two major trans rights organizations are merging to fight hate with "double the power"

The National Center for Transgender Equality (NCTE) and the Transgender Legal Defense Fund (TLDEF) are merging to become Advocates for Trans Equality.

The merger aims to strengthen the trans rights movement and give trans activists a greater voice and opportunity to lead. [ more ]

The Verge

Adobe abandons $20 billion acquisition of Figma

Adobe and Figma have mutually terminated their merger agreement.

Adobe will pay Figma a reverse termination fee of $1 billion. [ more ]

The Verge

Adobe refuses to compromise on its bid for Figma

Adobe refuses to make any compromises to appease the UK competition watchdog's concerns about its $20 billion acquisition of Figma.

The Competition and Markets Authority's recommendations leave Adobe with the option to sell off Figma Design or face the deal being blocked entirely. [ more ]

The Verge

Adobe refuses to compromise on its bid for Figma

Adobe refuses to make any compromises to appease the UK competition watchdog's concerns about its $20 billion acquisition of Figma.

The Competition and Markets Authority's recommendations leave Adobe with the option to sell off Figma Design or face the deal being blocked entirely. [ more ]

Engadget

Adobe and Figma deal will 'harm' digital design sector, UK report suggests

The UK's Competition and Markets Authority (CMA) has released provisional findings on the Adobe and Figma merger, stating that it will eliminate competition, reduce innovation, and remove Figma as a threat to Adobe's software suites.

Figma is a major player in the UK design space, accounting for 80% of the market and a significant part of the country's app development sector.

The investigation concludes that the merger would eliminate competition in multiple fields, impacting sectors that generate $60 billion in annual revenue and employ 850,000 skilled workers. [ more ]

The Verge

UK watchdog slams the brakes on Adobe's $20 billion bid for Figma

The UK's competition watchdog, the CMA, has provisionally determined that Adobe's proposed acquisition of Figma would harm competition in the design software market.

The CMA stated that the deal would eliminate competition in the software markets for product design, image editing, and illustration.

Possible remedies being considered include prohibiting the merger or requiring Adobe to divest its 'overlapping operations'. [ more ]

The Verge

UK watchdog slams the brakes on Adobe's $20 billion bid for Figma

The UK's competition watchdog, the CMA, has provisionally determined that Adobe's proposed acquisition of Figma would harm competition in the design software market.

The CMA stated that the deal would eliminate competition in the software markets for product design, image editing, and illustration.

Possible remedies being considered include prohibiting the merger or requiring Adobe to divest its 'overlapping operations'. [ more ]

The Verge

Web design

Adobe refuses to compromise on its bid for Figma

Adobe refuses to make any compromises to appease the UK competition watchdog's concerns about its $20 billion acquisition of Figma.

The Competition and Markets Authority's recommendations leave Adobe with the option to sell off Figma Design or face the deal being blocked entirely. [ more ]

The Verge

Web design

UK watchdog slams the brakes on Adobe's $20 billion bid for Figma

The UK's competition watchdog, the CMA, has provisionally determined that Adobe's proposed acquisition of Figma would harm competition in the design software market.

The CMA stated that the deal would eliminate competition in the software markets for product design, image editing, and illustration.

Possible remedies being considered include prohibiting the merger or requiring Adobe to divest its 'overlapping operations'. [ more ]

Poynter

Media industry

Mother Jones and the Center for Investigative Reporting to merge - Poynter

Mother Jones and the Center for Investigative Reporting will merge as a single nonprofit news outlet, combining their strengths and expanding their reach.

The merger will allow Mother Jones to enhance its audio platforms and CIR to increase its digital reach, creating a more sustainable and robust news organization. [ more ]

Boston.com

Beer

Dorchester Brewing to merge with Aeronaut, forming 'Tasty Liquid Alliance'

Dorchester Brewing Co. and Aeronaut Brewing Co. have announced a merger, with the goal of expanding and combining purchasing and marketing power.

The merger is a response to the nationwide plateau in craft beer sales and the broader consolidation happening in the industry. [ more ]

Above the Law

Morning Docket: 12.07.23

Lawyer asks for Donna Adelson to be moved out of jail

Hunter Biden wants to testify in a public hearing

Spencer Fane merges with Snow Christensen & Martineau in Salt Lake City [ more ]

WSJ

World news

Woodside Energy, Santos in Merger Talks to Create Global Energy Giant

Woodside Energy and Santos are in talks for a potential merger

The merger could result in a new global giant worth around $52 billion [ more ]

Chicago Tribune

Public health

Combined NorthShore ad Edward-Elmhurst health system renamed

NorthShore - Edward-Elmhurst Health will now be known as Endeavor Health.

The rebrand is intended to highlight that each of the hospitals and care options are part of one health system. [ more ]

Axios

Public health

A rumored merger would create yet another health care titan

A potential merger between health insurers Cigna and Humana could create a massive company in the healthcare industry.

The consolidation of hospitals, doctors, and insurers has raised concerns about the impact on patients and taxpayers. [ more ]

WSJ

Business intelligence

Cigna-Humana Merger Is Likely to Face Antitrust Challenge

Cigna and Humana could merge to create a healthcare powerhouse

Cigna has a large pharmacy benefit management business while Humana has a strong presence in the Medicare Advantage industry [ more ]

WSJ

Business intelligence

Cigna-Humana Merger Is Likely to Face Antitrust Challenge

Cigna and Humana's merger could create a powerful healthcare company.

The merger would allow Cigna to enter the highly lucrative Medicare Advantage industry.

The combined company would compete with UnitedHealth Group, the current industry leader in Medicare Advantage. [ more ]

Dark Reading

Privacy professionals

Kiteworks' Maytech Acquisition Reaffirms Commitment to UK Market

Kiteworks has announced a merger with Maytech to strengthen its position in the UK market and expand its sensitive content communication offerings.

The acquisition allows Maytech customers to access Kiteworks' modernized file and email data communications platform and benefit from advanced security and compliance features.

Kiteworks' unified platform streamlines the protection of sensitive communications and adheres to stringent regulations like ISO 27001/27017/27018, SOC 2 Type II, and FedRAMP. [ more ]

Dark Reading

Privacy professionals

Kiteworks' Maytech Acquisition Reaffirms Commitment to UK Market

Kiteworks has announced a merger with Maytech to strengthen its position in the UK market and expand its sensitive content communication offerings.

The acquisition allows Maytech customers to access Kiteworks' modernized file and email data communications platform and benefit from advanced security and compliance features.

Kiteworks' unified platform streamlines the protection of sensitive communications and adheres to stringent regulations like ISO 27001/27017/27018, SOC 2 Type II, and FedRAMP. [ more ]

Above the Law

6 months ago