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☆ Private equity bites off mostly what it can chew
▼ + stars: | 2023-08-17 | by ( Jonathan Guilford | ) www.reuters.com time to read: +4 min

Private equity firms notched nearly $300 billion of acquisitions worldwide through Aug. 15, according to Dealogic data. Deals in the $1 billion to $5 billion range are running closest to the same pace as 2022. STG, for example, secured a loan to value of more than 40% from private lenders. With capital tighter, it’s easy to understand why buyout firms are pursuing humbler deals more likely to exceed the minimum returns investors expect. GTCR’s plan to buy 55% of Worldpay at a $17.5 billion valuation requires an equity check equivalent to 15% of the buyout firm’s assets.

Persons: Simon & Schuster, STG, Clayton, Rice, Banks, Ares Capital’s, hasn’t, Jeffrey Goldfarb, Sharon Lam Organizations: KKR, New York Stock Exchange, Reuters, Avid Technology, GTCR, TPG, Francisco Partners, Bain Consulting, Thomson, & $ Locations: New York, U.S, can’t, Dubilier

The new legislation will limit the amount of cannabis young adults can buy to 30 grams a month, compared to 50 grams for older adults. Scholz's government had already watered down original plans to allow the widespread sale of cannabis in licensed shops after consultations with Brussels. Instead, it said would launch a pilot project for a small number of licensed shops in some regions to test the effects of a commercial supply chain of recreational cannabis over five years. Malta became the first European country to allow limited cultivation and possession of cannabis for personal use in late 2021. The legislation presented on Wednesday includes strict rules for growing weed - cannabis clubs of up to 500 associates must have burglar-proof doors and windows, with greenhouses fenced off.

Persons: Lisi Niesner, Chancellor Olaf Scholz, Karl Lauterbach, Lauterbach, Armin Schuster, Kristine Luetke, Sarah Marsh, Andreas Rinke, Angus MacSwan, Bernadette Baum Organizations: REUTERS, Rights, Scholz's Social Democrats, Free Democrats, Thomson Locations: Brandenburg, Berlin, Germany, Europe, Saxony, Brussels, Netherlands, Switzerland, Malta

☆ Stop trying to be happy. Instead, have more fun
▼ + stars: | 2023-08-15 | by ( Jessica Dulong | ) edition.cnn.com time to read: +10 min

Rucker's "The Fun Habit" offers practical tips and tools to encourage everyday acts of fun. CNN: What effect does nurturing a fun habit have on our lives? Because it’s human nature to quickly fill up any space we create, I suggest coming up with what I call a fun file — a robust list of fun activities you’d like to integrate into your days. Rucker: Fun is the antidote to life’s slings and arrows. CNN: How does journaling support building a fun habit?

Persons: busyness, Mike Rucker, Finley Skelton, Rucker, ” Rucker, “, Simon, we’re, Ippei, Stephen Zeigler, we’ve, Journaling, that’s, you’ve, Jessica DuLong, ” Organizations: CNN, Schuster CNN, Getty, Bank, Research Locations: ruminating, Brooklyn , New York

☆ CBS News names Wendy McMahon as new chief
▼ + stars: | 2023-08-14 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +1 min

CBS News on Monday named Wendy McMahon as its CEO and president. The role expands McMahon's prior role as co-president to having solo oversight over CBS News and its stations. McMahon will be in charge of all of CBS News' broadcast and streaming operations, as well as its 27 local TV stations, 14 local streaming channels and syndication programming. She'll also oversee content licensing to TV stations and the division's national ad sales business. McMahon will was also named president of CBS Media Ventures.

Persons: Wendy McMahon, McMahon, Neeraj Khemlani, Khemlani, Simon, Simon & Schuster, She'll, Drew Barrymore, CBS Newspath, Steven LoCascio, LoCascio Organizations: CBS, CBS News, Sunday, Simon &, Paramount, KKR, CBS Radio, CBS Media Ventures

☆ CBS News Chief Neeraj Khemlani is stepping down from his role
▼ + stars: | 2023-08-13 | by ( Oliver Darcy | ) edition.cnn.com time to read: +2 min

CNN —CBS News President and co-head Neeraj Khemlani, who has led the Tiffany Network’s news division and local TV stations for a little more than two years, abruptly announced Sunday that he would step down from his role. “I have some news to share today, and I don’t want to bury the lede,” read a memo from Khemlani to staffers. During his tenure, Khemlani bolstered CBS News’ reporting ranks, luring prominent journalists such as Robert Costa and Cecilia Vega to the outlet. The CBS News chief was the subject of a human resources probe earlier this year. Khemlani is the third network news chief to exit in 2023.

Persons: Khemlani, Tiffany, “, ”, I’ve, ” Khemlani, Simon, Simon & Schuster, Wendy McMahon, George Cheeks, Robert Costa, Cecilia Vega, Chris Licht, Noah Oppenheim Organizations: CNN, CBS, Simon &, Khemlani, CBS News, Evening, ”, NBC, ABC, NBC News

☆ The Big Number: $1.62 Billion
▼ + stars: | 2023-08-11 | by ( Marie Solis | ) www.nytimes.com time to read: 1 min

Reporting on the Business news of the weekMarie Solis Reporting on the Business news of the weekAfter a mega-merger with Penguin Random House collapsed, the publishing giant Simon & Schuster is set to be sold to the private equity firm KKR for $1.62 billion. Here’s what to know →

Persons: Marie Solis, Simon, Schuster Organizations: Business, Penguin Random, KKR, & $

☆ GOP Senate candidate plans to steer book sale money to a group that lobbies for his industry, teeing up potential conflict of interest
▼ + stars: | 2023-08-10 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

Tim Sheehy is releasing a memoir in the middle of his campaign for US Senate in Montana. He plans to steer some of the revenue from the book to an industry lobbying group he helped found. It's the latest conflict-of-interest question for Sheehy, whose company relies on government contracts. But Sheehy's book release poses unique conflict-of-interest questions, given his apparent plans for the revenue. If Sheehy's campaign chooses to promote the book when it's released, that would mean using campaign resources to raise money for a lobbying organization that benefits Sheehy's bottom line.

Persons: Tim Sheehy, Sheehy, Simon, Schuster, Matt Rosendale, Democratic Sen, Jon Tester, Tester, it's, Phil Hardy, Hardy, who's, Joe Biden's Organizations: US, Service, Navy SEAL, Bridger Aerospace, Caucus, Democratic, United Aerial Firefighters Association, Bloomberg, Department of Interior, US Forest Service, Senate, Boeing, Federal Aviation Administration Locations: Montana, Wall, Silicon, America, Washington, DC

☆ Megan Fox says her 'body aches' from the weight of men's 'sins' in announcing new poetry book
▼ + stars: | 2023-08-08 | by ( Marianne Garvey | ) edition.cnn.com time to read: +1 min

The debut poetry collection by the “Jennifer’s Body” actress titled “Pretty Boys are Poisonous,” is set for release in November. Gallery Books, a division of Simon & Schuster, will publish. According to the official synopsis, Fox “shows fans her wicked humor through a heartbreaking and dark collection of poetry. I’ve spent my entire life keeping the secrets of men, my body aches from carrying the weight of their sins. The poetry book will simultaneously be published as an audiobook from Simon & Schuster Audio, read by Fox.

Persons: Megan Fox, Simon & Schuster, Fox “, Fox, I’ve, what’s, Brian Austin Green, Kelly, Simon Organizations: CNN, Simon &, Fox, “, Simon & Schuster Locations: “ Beverly Hills

☆ Stocks making the biggest moves premarket: UPS, Lucid, Beyond Meat, Novo Nordisk and more
▼ + stars: | 2023-08-08 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

The company reported an adjusted $2.11 per share on revenue of $8.31 billion, while analysts polled by Refinitiv forecasted $1.98 and $7.58 billion. Analysts surveyed by Refinitiv had penciled in a loss of 33 cents per share on $175 million of revenue. Palantir Technologies — Palantir Technologies slid 3.4% after the data analytics company reported its second-quarter results. Beyond Meat reported an adjusted loss of 83 cents per share on $102.1 million in revenue, while Refinitiv forecasted 86 cents and $108.4 million. Paramount Global — The media conglomerate's shares climbed more than 2% in premarket trading after the company reported a quarterly earnings and revenue beat.

Persons: Goldman Sachs, NASH, Banks, Moody's, Eli Lilly, EchoStar, Charlie Ergen, Refinitiv, Lucid, Palantir, Hims, Simon & Schuster, Yun Li, Samantha Subin, Sarah Min, Pia Singh, Jesse Pound Organizations: Sagimet, Goldman, T Bank, Citizens Financial, Bank of New York Mellon, Truist, JPMorgan Chase, Telsey, Refinitiv, Novo Nordisk —, Dish, United Parcel Service, behemoth, UPS, Palantir, Paramount Global, Paramount, KKR Locations: New York, Banks —

☆ Paramount to Sell Simon & Schuster to KKR for $1.62 Billion
▼ + stars: | 2023-08-07 | by ( Jeffrey A. Trachtenberg | Jessica Toonkel | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/paramount-para-q2-earnings-report-2023-b4308cc6

Persons: Dow Jones

☆ Paramount to sell Simon & Schuster to KKR for $1.6 billion in cash
▼ + stars: | 2023-08-07 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

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

☆ Paramount to sell Simon & Schuster to KKR for $1.62 billion
▼ + stars: | 2023-08-07 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

The publishing offices of Simon and Schuster in New York. Paramount Global agreed to sell book publisher Simon & Schuster to private equity giant KKR for $1.62 billion, the media company said Monday as it reported earnings. KKR's entry into the book publishing space comes months after Paramount scrapped its initial agreement to sell Simon & Schuster to rival Penguin Random House — which was valued at $2.2 billion — after a federal judge rejected the merger and it raised red flags with the government. Paramount executives said during Monday's earnings call that the proceeds of the Simon & Schuster sale would be used in the company's ongoing effort to pay down debt. Paramount reported revenue of $7.62 billion for the quarter, down about 2% year-over-year, as the company's TV segment was once again dragged down by lower advertising revenue.

Persons: Simon, Schuster, Simon & Schuster, Naveen Chopra, Bob Bakish Organizations: Paramount Global, KKR, Paramount, Penguin Random, Simon &, Penguin, BET Media Group, BET, VH1, CNBC, Media, Revenue Locations: New York

Paramount said on Monday it had reached a deal to sell Simon & Schuster, one of the biggest and most prestigious publishing houses in the United States, to the private-equity firm KKR, in a major changing of the guard in the books business. The deal, for $1.62 billion, will put control of the cultural touchstone behind authors like Stephen King and Bob Woodward in the hands of a financial buyer with an expanding presence in the publishing industry. While private equity investors have had a significant footprint in the book business — different firms have owned literary agencies, publishing houses and the retailer Barnes & Noble — the acquisition of one of the largest publishers in the country vastly increases the hold of financial interests in the business. Richard Sarnoff, who leads KKR’s media, entertainment and technology group, is a familiar name to many in the publishing industry and his involvement is encouraging, said several publishing executives on Monday. Mr. Sarnoff has held multiple positions at Bertelsmann, the company that owns Penguin Random House, and served as chairman of the Association of American Publishers, a trade group.

Persons: Simon, Schuster, Stephen King, Bob Woodward, Noble, Richard Sarnoff, Sarnoff Organizations: Paramount, KKR, Barnes, Bertelsmann, Random, Association of American Publishers Locations: United States

Toy figures of people are seen in front of the displayed Paramount + logo, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration/FILE PHOTOAug 7 (Reuters) - Paramount Global (PARA.O) said it would sell Simon & Schuster to private-equity firm KKR & Co (KKR.N) for $1.62 billion in cash, ending a year-long attempt to sell the marquee book publisher. Paramount has been trying to offload Simon & Schuster, the publisher of authors such as Stephen King and Hillary Clinton, since a federal judge blocked its $2.2 billion sale to Penguin Random House last year. "Simon Schuster is a fantastic asset, but ... it's not core," CEO Bob Bakish said on a post-earnings call. Paramount will receive gross proceeds of $2.2 billion from the sale of Simon & Schuster, including a $200 million termination fee paid by Penguin Random House and the cash flow it received during the process.

Persons: Dado Ruvic, Simon, Schuster, Stephen King, Hillary Clinton, Penguin Random, Simon Schuster, Bob Bakish, Bakish, Simon & Schuster, Naveen Chopra, Samrhitha, Dawn Chmielewski, Anil D'Silva Organizations: REUTERS, Paramount, KKR, Co, Penguin, BET Media Group, BET, Simon &, Penguin Random, Netflix, Disney, Finance, Hollywood, CBS, U.S, Apple, Thomson Locations: Bengaluru, Dawn, Los Angeles

Paramount is preparing to announce an agreement to sell Simon & Schuster, one of the country’s top publishers, to KKR, a private-equity firm, marking the end of a yearslong attempt to sell the publishing house. The deal, which values Simon & Schuster at roughly $1.62 billion, could be announced as soon as Monday, according to three people familiar with the deal who spoke on condition of anonymity on Sunday to discuss a confidential process. The deal has the potential to reshape book publishing, an industry in which Simon & Schuster is one of the most significant players in the country. Paramount (formerly ViacomCBS) put Simon & Schuster up for sale in 2020. About nine months later, it announced a deal to sell the company to Penguin Random House for $2.18 billion.

Persons: Simon, Schuster Organizations: Paramount, KKR, Penguin Random, & $

Persons: Dow Jones, schuster Organizations: kkr

REUTERS/Brendan McDermid/File PhotoNEW YORK, Aug 3 (Reuters) - KKR & Co Inc (KKR.N) is in advanced talks to acquire book publisher Simon & Schuster from Paramount Global (PARA.O) for $1.65 billion, according to people familiar with the matter. KKR was competing against bidders including News Corp (NWSA.O)-owned HarperCollins Publishers for Simon & Schuster and investor Richard Hurowitz, the sources said. The Wall Street Journal reported the advanced talks between KKR and Paramount earlier on Thursday. Last year, the U.S. Justice Department sued to stop the tie-up of Penguin and Simon & Schuster, which led to a collapse of the deal. Simon & Schuster publishes authors including Stephen King, Jennifer Weiner, and former U.S. presidential candidate Hillary Clinton.

Persons: Brendan McDermid, Simon & Schuster, Richard Hurowitz, Simon, Schuster, Hurowitz, Stephen King, Jennifer Weiner, Hillary Clinton, King, Anirban Sen, Milana, Sandra Maler Organizations: KKR, New York Stock Exchange, REUTERS, Co Inc, Paramount Global, News Corp, HarperCollins Publishers, Simon &, Reuters, Paramount, Penguin Random, HarperCollins, Street Journal, Penguin, U.S . Justice Department, Bertelsmann, Simon, Schuster, Thomson Locations: New York, U.S

☆ Jennette McCurdy Now Qualifies as a Veteran Best Seller
▼ + stars: | 2023-08-03 | by ( Elisabeth Egan | ) www.nytimes.com time to read: +1 min

It’s a message to Jennette McCurdy from Sean Manning, her editor at Simon & Schuster, announcing that her memoir, “I’m Glad My Mom Died,” is on the best-seller list for yet another week. McCurdy doesn’t pay close attention to where the book falls in the rankings — this week it’s at No. “Not one person has approached me for being an actor from the TV show they watched when they were little,” she said. “The dental assistant came in with her phone while I had the whole clip in my mouth,” McCurdy said. I love your book!’” McCurdy obliged.

Persons: Jennette McCurdy, Sean Manning, Simon, Simon & Schuster, “, ”, McCurdy, “ I’m, there’s, ” McCurdy, ’ ” McCurdy Organizations: Simon &

The announcement was the first time either of the two – who had both been in military positions outside the Rocket Force – were named as the force’s leadership. Beijing gave no reason for the change, making the case yet another example of the lack of transparency in China’s political system. The newly appointed Rocket Force leadership both previously held deputy positions in other parts of the military. New missile silosThe leadership change comes as evidence points to an expanding Chinese nuclear force – creating an even more important role for the Rocket Force, which until 2016 was known as the PLA Second Artillery Force. They are responsible for handling and delivering China’s nuclear weapons,” said Drew Thompson, a senior research fellow at the Lee Kuan Yew School of Public Policy at the National University of Singapore.

Persons: Xi Jinping, Wang Houbin, Xu Xisheng, Li Yuchao, Qin Gang, Li, Xu Zhongbo, Xu, China’s, ”, Yun Sun, Li Gang, Xi, “, Qin, Wang Yi, Carl Schuster, “ Xi, ” Schuster, Wang, Neil Thomas, Roderick Lee, Drew Thompson, Lee, ” Thompson Organizations: CNN, Liberation Army Rocket Force, Rocket Force, Xinhua, Communist Party, Stimson, Communist Party’s, Military Commission, People’s Liberation Army, PLA, Pacific Command’s Joint Intelligence Center, PLA Navy, Southern Theater Command, Asia Society, Center for, USAF Air University China Aerospace Studies, ” CNN, China’s Ministry of Defense, PLA Second Artillery Force, US Defense Department, Lee Kuan Yew, of Public, National University of Singapore, “ Locations: China, Suzhou, Taiwan, Washington, Beijing, Xinhua, Hawaii, Center for China, United States

The sale of Simon & Schuster appears to be nearing a suspenseful conclusion, like the final chapter of a page-turner from one of the country’s largest and most prestigious publishing houses. Second-round bids for Simon & Schuster — which publishes boldface names like Stephen King — were due earlier this week, according to three people familiar with the negotiations, who spoke on the condition of anonymity to discuss the confidential sale process. The sale process is expected to conclude in the coming weeks, the people said. A sale would put an end to years of uncertainty for Simon & Schuster, which is owned by Paramount (formerly ViacomCBS) and was initially put up for sale in early 2020. How much suitors for Simon & Schuster were willing to pay couldn’t be determined.

Persons: Simon, Simon & Schuster, Stephen King —, couldn’t Organizations: Simon &, KKR, News Corp, HarperCollins, Paramount, Penguin Random, Department of Justice

☆ Richard E. Grant Fights Grief With ‘A Pocketful of Happiness’
▼ + stars: | 2023-08-01 | by ( Amy Bloom | ) www.nytimes.com time to read: +1 min

One is Joan Washington, whom we get to know as passionate and commanding, a great teacher, a wonderful mother, a smartass and a woman who understood and loved her husband, deeply. To be clear, I make no complaints about her, and neither Grant nor I criticize anything she does in this book. It is not her fault that Richard E. Grant has adored her since he wrote her a fan letter when he was 14. I could have done without all of that, because, like Richard E. Grant, I just wanted more of the feisty, unvarnished, irritable, generous, wise, unimpressed Joan Washington. Amy Bloom’s most recent books are “Flower Girl” and “In Love: A Memoir of Love and Loss.”A POCKETFUL OF HAPPINESS | By Richard E. Grant | 336 pp.

Persons: Joan Washington, ” Olivia, Grant, Barbra Streisand, Richard E, ”, —, Amy Bloom’s, Simon Organizations: Schuster

☆ Biden administration unveils draft changes to US merger review guidelines
▼ + stars: | 2023-07-19 | by ( Brian Fung | ) edition.cnn.com time to read: +8 min

Vertical mergers have historically received less attention from regulators and the courts, but Wednesday’s draft guidelines explicitly say that the US government may consider certain kinds of vertical mergers to be harmful to competition. Spurred by an executive order signed by President Joe Biden in 2021, Wednesday’s draft updates are the result of more than a year of development. (The new draft guidelines, a copy of which CNN reviewed, do not directly reference the consumer welfare standard.) And the Justice Department lost its appeal to block a multimillion-dollar merger between two major sugar producers in another closely watched case. “Unfortunately, things don’t always go our way,” Khan said in response to questions about whether the FTC has exceeded its authority.

Persons: —, ”, General Merrick Garland, Lina Khan, Jonathan Kanter, Joe Biden, Khan, Meta, Simon, Simon & Schuster, Kanter, “, don’t, ” Khan, Biden, Zillow Organizations: CNN, The Justice Department, Federal Trade Commission, Wednesday, Justice Department, Activision Blizzard, FTC, “, DOJ, Microsoft, Activision, Department, Facebook, Nvidia, ARM, American Airlines, JetBlue, Penguin Random, Simon &, Agriculture

☆ Money isn't Elon Musk's number 1 motivator, says biographer who trailed him for 3 years
▼ + stars: | 2023-07-18 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Walter Isaacson said on CNBC's Squawk Box that Musk's biggest motivator doesn't appear to be money. Musk is the world's richest man with a $254 billion fortune, per Bloomberg's Billionaire Index. For the world's richest person, Elon Musk is not all about the money. That's according to Walter Isaacson, the biographer who spent three years trailing Musk for a book releasing in September. The biographer has also previously made references to Musk's "demon mode" — describing him as industrious but "dark" and "with a real lack of empathy."

Persons: Walter Isaacson, Elon Musk, Isaacson, wouldn't, Musk, Jekyll, Hyde, Simon, Simon & Schuster, Sarah Jackson, Insider's Joseph Wilkins Organizations: Twitter, CNBC, Simon &, Bloomberg, SpaceX

Seoul, South Korea CNN —For the first time in decades, a nuclear capable US Navy ballistic missile submarine has made a port call in South Korea, in a move that comes just days after North Korea test-fired what it said was a solid-fueled intercontinental ballistic missile. The presence of the Ohio-class ballistic missile submarine in the South Korean port city of Busan was announced by the country’s Defense Ministry on Tuesday afternoon. The NCG is a joint US and South Korean panel set up by the countries’ leaders at a summit in Washington in April. The Nuclear Threat Initiative at the James Martin Center for Nonproliferation Studies estimates that each Trident missile can carry four nuclear warheads, meaning each US ballistic missile submarine could be carrying about 80 nuclear warheads. One arriving in South Korea on a port visit – which must be arranged 24 to 48 hours in advance – would be far more visible, giving North Korea an advantage, Schuster said.

Persons: Kurt Campbell, Kim Yo Jong, Kim Jong Un, ”, Kim, “, James Martin, Joe Biden, Yoon Suk, ” Biden, Biden, Yoon, ” Carl Schuster, ” Blake Herzinger, Schuster, Kim Jong, we’ve, ” Schuster Organizations: South Korea CNN —, North, country’s Defense, US National Security Council, Nuclear Consultative, DPRK, Democratic, Nuclear, James, James Martin Center, Nonproliferation, Trident, South, ROK, US Navy, Pacific Command’s Joint Intelligence Center, Pacific, United States Studies Centre Locations: Seoul, South Korea, North Korea, Ohio, Korean, Busan, Washington, Korea, Democratic People’s Republic of Korea, Pyongyang, United States, Hawaii, –

☆ Taiwan reports record number of Chinese warships in waters around the island
▼ + stars: | 2023-07-17 | by ( Brad Lendon | ) edition.cnn.com time to read: +3 min

CNN —A record 16 Chinese warships were spotted in waters around Taiwan in a 24-hour period late last week, the island’s Defense Ministry reported, in what analysts said was the latest sign of an intimidation campaign against Taipei by China’s ruling Communist Party. During that same period, nine PLA vessels were reported in waters around Taiwan in three consecutive days. The 16 Chinese ships around Taiwan on Friday into Saturday was the most since the island’s Defense Ministry began providing daily updates of PLA activity around the island in August 2022. “Analysts said Sunday that the recent intensive exercises demonstrate the PLA’s capabilities in encircling the island,” the Global Times story said. Neither Taiwan’s Defense Ministry nor the Global Times article gave details on what PLA warships were in the waters around Taiwan.

Persons: ” Carl Schuster, ” Schuster, China’s, “, ” Organizations: CNN, island’s Defense Ministry, Taipei, Communist Party, People’s Liberation Army Navy, PLA, Pacific Command’s Joint Intelligence Center, Sunday, Global Times, “, Taiwan’s Defense Ministry Locations: Taiwan, Beijing, Hawaii

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