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Title: Andersen Consulting Partners with Move for IT Solutions

by Rachel Kim โ€“ Technology Editor
written by Rachel Kim โ€“ Technology Editor

Andersen Consulting and Move Announce Strategic Cooperation

Andersen Consulting has entered into a cooperation agreement with โ€‹Move, a leading IT โ€Œinfrastructure,โฃ managed services, and digital corporate solutionsโฃ provider with operations in Norway and Sweden.

Founded in 1989, Move delivers consulting services, โขIT solutions, andโฃ managed services, specializing in areasโฃ like cybersecurity, cloud solutions, server and storage, network interaction, and AI implementation. They partner with medium and large enterprisesโฃ to design, implement, and manage secure, scalable, and future-proof ITโฃ environments.

“This collaboration is an exciting opportunity to create even more value forโข our customers,” stated Roald โ€ŒSannรฆs, managing Director of Move.”Combining our skills with Andersen Consulting’s global reach and expertiseโค allows us to offer more holistic solutions,helping companies navigate today’s challenges โขand capitalize on future opportunities.”

Mark L. Resolution, Global Chairman and CEO of Andersen, added, โ€Œ”Move has earned an excellent reputationโ€ in Norway for its technical excellence and dedication to customer success. This cooperation will empower our clients to tackleโค complexity with clarity, speed, and confidence, positioningโ€‹ them for sustainable growthโ€‹ in the evolving digital landscape.”

Andersen Consulting is a global advisory firm offering comprehensive services โคin corporateโข strategy, โขbusiness, technology, and โ€AI transformation, alongside human capital solutions. Integrated within Andersen’s multidimensionalโ€ serviceโ€ model, โขthe firm provides top-tier advice, tax, legal, โคand valuation services, asโ€ wellโ€Œ as global mobility expertise, through a network of over 20,000 specialists across more than 600 locations worldwide via its memberโ€ and cooperating companies. Andersen Consulting Holdings โ€ŒLP is โ€Œa limited partnership delivering advisory solutions globally throughโข its network.

Watchโข the original version on BusinessWire.com

Contact:

mediainquiries@andersen.com

Note: The disclaimer regarding the original language version being legally valid has โคbeen retained.

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Entertainment

Paramount-Skydance Merger: What’s Next for Streaming Giant

by Julia Evans โ€“ Entertainment Editor
written by Julia Evans โ€“ Entertainment Editor

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Breaking: Further workforce reductions have been announced at Paramount Global following its merger with Skydance Media, with a 3.5 percent cut in addition to the 15 percent reduction of the U.S.workforce implemented last year. The moves signal a significant restructuring under new leadership, focusing on cost-cutting and strategic realignment.

the integration of Skydance, led by David Ellison, is prompting critical decisions regarding Paramount’s television assets.A key consideration is whether to spin off the TV channels into a seperate entity, mirroring Warner Bros. Finding’s recent move with its networks.This strategy aims to unlock value and allow each business unit to operate with greater agility.

The merger has already sparked controversy, notably surrounding the removal of segments from “The Late Show with Stephen Colbert” that criticized Paramount’s financial dealings with former President Donald Trump. Colbert’s commentary, referencing the Federal Communications Commission (FCC), was deemed a “fat bribery” by the host. Paramount attributed the decision to financial considerations, a justification met with widespread criticism, including a satirical response from the creators of Comedy Central’s “South Park.”

In a pointed rebuke, “South Park” debuted an episode featuring its characters in a digitally-generated advertisement with explicit content – including nudity and a talking penis – seemingly mocking Paramount’s censorship. This episode followed the recent completion of a $1.5 billion, five-year renewal deal between paramount and the show’s creators, Trey Parker and Matt Stone, based in Boulder, Colorado. The deal secures the future of “South Park” on Paramount’s streaming platform, Paramount+, and its cable network, Comedy Central.

The ongoing restructuring at Paramount also involves evaluating the future of its streaming services, including Paramount+ and Showtime, and integrating them more effectively with Skydance’s film and television production capabilities. Analysts predict further consolidation within the media landscape as companies grapple with the challenges of the streaming era and evolving consumer habits. The Skydance deal, valued at $7.7 billion,gives Ellison a controlling stake in Paramount’s voting shares,effectively shifting control of the media conglomerate.


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Business

JD.com Offers to Acquire Ceconomy – Control of MediaMarkt, Saturn & Fnac Darty

by Priya Shah โ€“ Business Editor
written by Priya Shah โ€“ Business Editor

JD.com Eyes Ceconomy Takeover,Including MediaMarkt and Saturn

Table of Contents

Chinese online retail giant JD.com is reportedly making a meaningful offer to acquire Ceconomy, the Dรผsseldorf-based holding company that owns the prominent electronics retailers MediaMarkt and Saturn. This potential takeover,valued at approximately EUR 2.2 billion, would see JD.com assume control of these well-known European brands and also acquire shares in the French company Fnac Darty.

Ceconomy confirmed reports of the voluntary public takeover offer on Wednesday. JD.com is proposing to pay EUR 4.60 in cash for each regular share of Ceconomy. This move signifies a major expansion for JD.com into the European market.

shareholder Acceptance

Key shareholders have indicated their willingness to support the deal.The Kellerhals family, Ceconomy’s largest single shareholder with nearly 30 percent of the company, has agreed to sell 3.81 percent of their holdings. They intend to retain a stake of around 25.35 percent, signaling continued involvement. Additionally, shareholders haniel, Beisheim, BC Equities, and Freenet, who collectively hold approximately 27.9 percent of Ceconomy’s shares,have stated their intention to sell their stakes to JD.com.

JD.com’s existing stake of almost 32 percent in Ceconomy positions them as a substantial player in the ongoing acquisition process.The Chinese tech giant’s interest in Ceconomy has been a subject of recurring speculation in the market.

Strategic Implications

A successful takeover would provide JD.com with access to one of Europe’s largest online platforms for electronic goods.

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Business

Shell vs BP: Oil Major Talks Begin

by Priya Shah โ€“ Business Editor
written by Priya Shah โ€“ Business Editor

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Trump’s Endorsement of David Ellison‘s Paramount Global Takeover Faces Hurdles

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Former President Donald Trump has publicly endorsed david Ellison’s $8 billion takeover of Paramount Global, a deal currently under federal review. This endorsement comes amidst a significant complication: Trump’s own $20 billion lawsuit against CBS, a subsidiary of Paramount, stemming from a “60 Minutes” interview [CBS News].

Trump’s Support and the FCC Review

On Wednesday,as reporters gathered at the White House,Trump voiced his support for the Paramount-Skydance deal,which has been awaiting approval from the Federal Communications Commission (FCC) since late last fall.”Ellison is great. He’ll do a great job with it,” Trump stated, expressing his hope for the deal’s triumphant completion.

however, Trump also suggested a connection between the delay in the merger review and his ongoing lawsuit against CBS and its parent company, Paramount, concerning a “60 Minutes” interview with then-Vice President Kamala Harris [FCC].

Did You Know? The FCC is responsible for regulating interstate and international communications by radio, television, wire, satellite, and cable in the United States.

The “60 minutes” Controversy and Lawsuit

Since October, Trump has alleged that the “60 Minutes” interview with Kamala Harris was deliberately edited to enhance her image before the November election.CBS has refuted these claims, asserting that the edits were standard practice and that Harris was accurately quoted. Despite this, Trump’s legal team argues that the broadcast caused him “mental anguish.”

Trump described Harris’s response in the interview as “election-threatening” due to its perceived incompetence. While First Amendment experts have labeled Trump’s lawsuit as frivolous, Paramount is keen to avoid a protracted legal battle, as it could impede the Skydance acquisition, which requires FCC approval.

Mediation and Executive Departures

The mediation process aimed at resolving the lawsuit, filed in a Texas court, has been lengthy. Trump noted that two high-level CBS executives-the head of CBS News and the executive producer of “60 Minutes”-have recently left their positions as the merger review continues.

“They’re all getting fired,” he said.

Court documents filed by Trump’s legal team last week requested an extension in the discovery process, indicating ongoing efforts to reach a settlement.

Ellison’s Engagement with Trump

earlier this month, David Ellison and Trump had a brief meeting at a UFC fight in New Jersey, marking their second encounter at a UFC event this year. Skydance has declined to comment on these interactions.

The Paramount-Skydance Deal: Key Details

It has been almost a year since Shari Redstone, Paramount’s controlling shareholder, and other directors approved the $8 billion deal that would transfer the company to David Ellison, whose father, Larry Ellison, is a known Trump supporter. The agreement also involves the ellison family acquiring National Amusements Inc., the Redstone investment vehicle.

Skydance, based in Santa Monica, plans to integrate its operations and personnel into Paramount, consolidating assets such as the Paramount film studio, Paramount+ streaming service, CBS, and cable channels like Comedy Central, Showtime, and BET.

Pro Tip: Keep an eye on FCC filings and announcements for updates on the regulatory review process of the Paramount-Skydance deal.

The Final Regulatory Hurdle

The final regulatory step is FCC Chairman brendan Carr’s approval to transfer 29 CBS television station licenses from the Redstones to the Ellisons. The Senate recently confirmed Olivia Trusty, Trump’s second Republican appointee, to the FCC.

Key Players in the Paramount Global Deal
Name Role Significance
Donald Trump Former President of the United States Endorsed the deal; lawsuit against CBS complicates review.
David Ellison Head of Skydance Seeking to acquire Paramount Global.
shari Redstone Controlling Shareholder of Paramount Approved the skydance deal.
Brendan Carr FCC Chairman

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Business

Merger: Commerzbank warns of risks if taken over by Unicredit

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

Commerzbank boss Bettina Orlopp sees major risks in a takeover by the major Italian bank Unicredit. The integration of two large banks is extremely difficult, Orlopp told the Handelsblatt. After taking over Dresdner Bank in 2008, Commerzbank spent several years merging the systems of both banks. “We cannot afford such a standstill in today’s world, which is characterized by so many technological upheavals and very intense competition.”

Unicredit joined Commerzbank in September and wants to expand its share. German medium-sized companies and corporations would receive fewer loans if Commerzbank were taken over by the Italians, said Orlopp. “When it comes to corporate customers, there is a large overlap between the German Unicredit subsidiary HVB and us. In the event of a merger, the credit exposures of some companies would have to be reduced in order to prevent cluster risks.”

In addition, Commerzbank’s rating would deteriorate, probably even significantly, said Orlopp. “We would lose customers who have certain rating requirements and only do business with banks with very good credit ratings.” In addition, refinancing costs would increase. Commerzbank has an A rating from the rating agency S&P, while Unicredit is three levels lower at BBB.

New major shareholder

Commerzbank

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Commerzbank boss Bettina Orlopp sees major risks in a takeover by the major Italian bank Unicredit. The integration of two large banks is extremely difficult, Orlopp told the Handelsblatt. After taking over Dresdner Bank in 2008, Commerzbank spent several years merging the systems of both banks. “We cannot afford such a standstill in today’s world, which is characterized by so many technological upheavals and very intense competition.”

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