Tag: merger

Bishop of Steubenville Diocese Seeks Merger with Columbus Diocese

Hannah Poling

The bishop of the Roman Catholic Diocese of Steubenville is looking to potentially merge with the Catholic Diocese of Columbus. The merger is being considered for several reasons such as a declining Catholic population in the Steubenville diocese, an aging population of priests and Catholics, and economic struggles in the Ohio Valley.

“It is with sadness of heart that I share with you the continued decline in the Ohio Valley population and how it adversely affects our future sustainability. Furthermore, we are all too aware how the population is aging as well, to our ministerial detriment,” Bishop Jeffrey Monforton of Steubenville said.

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Commentary: Student Frustration with the Flawed Textbook Market Is Justified

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Dozens of student government executives wrote a letter recently urging the Department of Labor to block a merger between two giants of the textbook industry. In May, McGraw-Hill and Cengage announced they would be pursuing a merger. As two of the five major textbook publishers that currently have 80 percent of the market, this merger would form the second-largest textbook publisher in the US.

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Fiat Chrysler Proposes Merger with France’s Renault

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  Fiat Chrysler proposed a 50-50 percent merger Monday with Renault, a union that would create the world’s third biggest automaker. The merger, if it happens, would vault the new company, with annual sales of 8.7 million vehicles, into a position ahead of General Motors and behind only Volkswagen and Toyota, both of which sell about 10.6 million. The merger could give the combined companies a better chance in the battle among auto manufacturers to build new electric and autonomous vehicles. Investors in both companies showed their initial approval of the announcement, with Renault’s shares jumping 15 percent in afternoon trading in Paris and Fiat Chrysler stock up more than 10 percent in Milan. The proposal calls for shareholders to split ownership of the new company. Fiat Chrysler said the deal would save the combined companies $5.6 billion annually with shared payments for research, purchasing and other expenses. The deal does not call for closure of any manufacturing plants but the companies did not say whether any employees would lose their jobs. The deal would give Fiat access to Renault’s electric car technologies, allowing it to meet the strict carbon dioxide emission standards the European Commission is enacting. For its…

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Tribune Media Terminates Merger with Sinclair Broadcast Group, Files Lawsuit Alleging Breach of Contract

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Tribune - Sinclair

by Nick Givas   Tribune Media Company killed its merger with Sinclair Broadcast Group on Thursday and filed a lawsuit against the media conglomerate, claiming breach of contract. Tribune is seeking financial compensation for losses it claims it suffered as a result of Sinclair’s breach of the merger agreement. Tribune is accusing Sinclair of using questionable negotiating tactics when it was talking to the Department of Justice and the Federal Communications Commission over regulatory requirements, according to a statement obtained by The Daily Caller News Foundation. It also said Sinclair wouldn’t sell certain media stations to assure the deal’s approval. The lawsuit seeks compensation for all losses incurred as a result of Sinclair’s material breaches of the Merger Agreement. In the Merger Agreement, Sinclair committed to use its reasonable best efforts to obtain regulatory approval as promptly as possible, including agreeing in advance to divest stations in certain markets as necessary or advisable for regulatory approval. Instead, in an effort to maintain control over stations it was obligated to sell, Sinclair engaged in unnecessarily aggressive and protracted negotiations with the Department of Justice and the Federal Communications Commission (the “FCC”) over regulatory requirements, refused to sell stations in the markets as…

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