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New York CNN —Paramount has agreed to sell Simon & Schuster to private equity firm KKR for $1.6 billion in cash, after more than three years of trying to offload the book publishing powerhouse. Paramount posted Simon & Schuster for sale in 2020. In November 2022, Paramount ended its agreement to sell Simon & Schuster to Penguin Random House in what would have been a $2.2 billion deal. In October 2022, US District Court Judge Florence Pan ruled the combination of the book publishing giants would illegally reduce competition. The private equity firm also sold audiobook publisher RBMedia to H.I.G Capital this year after acquiring it in 2018.
Persons: Simon, Schuster, Bob Bakish, ” Bakish, Jonathan Karp, Dennis Eulau, Biden, Florence Pan, Penguin, RBMedia Organizations: New, New York CNN, Paramount, KKR, Paramount Global, Random, Justice, Elliott Management, Barnes & Nobles, Amazon, H.I.G, & $, & $ Locations: New York, Barnes
Sixth Street, Blackstone, and Ares have backed providers of treatments like laser hair removal. Laser hair removal, body contouring, filler injections — it's not just TikTok and Instagram where people are talking about their latest treatments. The space is another consumer-focused vertical, like dentistry and dermatology, that private equity firms, big and small, are aggressively pushing into. Christian Karavolas, who owns laser hair removal specialist Romeo & Juliette in New York City, said he's turned away offers by private equity investors. Laser hair removal, for instance, isn't considered a medical procedure in every state.
Persons: Ares, It's, Levine, Leonard Green, Blackstone, Levine Leichtman, Christian Karavolas, Juliette, he's, Karavolas, Alex Thiersch, Thiersch, Chanel, Dior, David Yurman, Louis Vuitton, isn't, Sevana Petrosian, Eva Longoria Bastón, SEV, Andrew Schwartz, Schwartz, Heravi Organizations: Sixth, Blackstone, Levine Leichtman Capital Partners, Leonard Green & Partners, Boston Consulting, Industry, KKR, SkinSpirit, Walmart, ORIX Venture Finance, TPG, General Atlantic, Wax Center, Med Spa Association, Getty, Consumers Locations: Blackstone, Milan, LaserAway, California, New York City, H.I.G, Manhattan, Burbank , California
The job market may be strong, but the invisible strings that connect workers to their jobs are increasingly weaker. As the co-head of global private equity at KKR , he's been a key champion of instilling employee stock ownership programs in all the companies the firm buys for its $19 billion Americas Fund. "It's better for investors, it's better for the company, it's better for employees, and in the end, it's better for the communities that they live in." Over 60,000 non-management employees have been awarded billions of dollars in total equity value through these ownership programs since 2011, the firm said. Through the non-profit, other private-equity firms like Apollo and TPG also committed to advancing shared ownership within their own portfolios.
Persons: Pete Stavros, he's, it's, Stavros Organizations: Alpha, UPS, KKR, Employees, Apollo, TPG Locations: Capital
A Jenny Craig sign hangs on the wall outside of the weight loss store on April 28, 2023 in Miami, Florida. Adcock said all former Jenny Craig customers have been notified by email and in the brand's Facebook groups about the relaunch. After four decades in business, Jenny Craig, based in Carlsbad, California, filed for Chapter 7 bankruptcy in Delaware on May 5, court records show. He said prices at Jenny Craig would remain similar to what they were before its bankruptcy but declined to share more details. The complaint alleges that hundreds of former Jenny Craig staffers could be owed some restitution.
Persons: Jenny Craig, Jenny Craig's, Brandon Adcock, Adcock, Jenny Craig couldn't, provider's, Wellful, we'll, Nutrisystem, they'd, We've, Jack Raisner Organizations: Wellful Inc, Facebook, NBC News, Adaptive, Kainos Locations: Miami , Florida, Carlsbad , California, Delaware, Dallas, Wellful, U.S
BRUSSELS, June 28 (Reuters) - Advent-owned NielsenIQ is set to secure EU antitrust clearance for its proposed acquisition of German market research firm GfK on the condition GfK sells its consumer panel business, people familiar with the matter said. U.S. consumer market research company NielsenIQ, which is present in more than 90 markets covering more than 90% of the world's population, announced the deal a year ago. GfK's consumer panel business covers 122,500 households and 1,800 retailers, with its data showing patterns, trends and predictions. The European Commission, which is scheduled to complete its preliminary review of the deal by July 4, declined to comment. The list includes French peer Ipsos, the UK's Kantar, YouGov, Dynata, Circana, Omnicon Group, Publicis Group, Cision and private equity firms such as H.I.G.
Persons: Ipsos, Foo Yun Chee, Jan Harvey, Barbara Lewis Organizations: European Commission, EU, Omnicon, Publicis, Equity, Bregal, Oakley, Symphony Technology, Thomson Locations: BRUSSELS, TowerBrook, Equistone
Jenny Craig tells employees it will shut its doors
  + stars: | 2023-05-03 | by ( Sara Ruberg | ) www.cnbc.com   time to read: +3 min
Jenny Craig corporate and salaried field employees' last day will be Friday, and hourly center employees' last day working was Tuesday. Capital when it acquired Jenny Craig for an undisclosed amount in April 2019. For the past two weeks, Jenny Craig had been running out of money as it searched for a buyer. Two current Jenny Craig corporate employees say they fear the company will file for bankruptcy by the end of the week. Jenny Craig employees say there was no indication preceding the past two weeks that the company was spiraling.
Check out these pitch decks that they've used to sell their vision and raise millions from private equity and VC investors. Blocking ad fraudAdtech startup Lunio, announced a $15 million Series A funding round in September 2022. In May 2022, the software-as-a-service startup raised a $30 million Series B round, led by Insight Partners. Marketing in the metaverseAnima, an augmented-reality startup, raised a $3 million funding round from investors in Janury. He raised $50 million in Series D after closing a $34 million Series C last year, bringing its total raised to $100 million.
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