Tag Archives: Penguin

Paramount scraps $2.2bn sale of Simon & Schuster publishing to Penguin | Publishing

Penguin Random House, the world’s largest book publisher, and rival Simon & Schuster have scrapped a $2.2bn deal to merge, Penguin’s owner said in a statement on Monday.

Bertelsmann, a German media group which owns Penguin, initially said it would appeal a US judge’s decision that said its purchase of Simon & Schuster would be illegal because it would hit authors’ pay.

But Bertelsmann said in a statement on Monday that it “will advance the growth of its global book publishing business without the previously planned merger of Penguin Random House and Simon & Schuster”.

Reuters reported on Sunday that the German company was unable to convince Paramount Global, Simon & Schuster’s owner, to extend their deal agreement and appeal the judge’s decision.

Judge Florence Pan of the US district court for the District of Columbia ruled on 31 October that the justice department had shown the deal could substantially lessen competition “in the market for the US publishing rights to anticipated top-selling books”.

With the deal’s dissolution, Penguin will pay a $200m termination fee to Paramount.

Paramount said on Monday that Simon & Schuster was a “non-core asset” to Paramount. “It is not video-based and therefore does not fit strategically within Paramount’s broader portfolio,” the company said in a filing on the deal’s termination.

The justice department did not immediately respond to a request for comment.

Unlike most merger fights, which focus on what consumers pay, the Biden administration argued the deal should be stopped because it would lead to less competition for blockbuster books and lower advances for authors who earn $250,000 or more.

The decision comes as the Biden administration has made clear it intends to tackle what it sees as monopoly positions, blaming them, among other things, for rising meat prices and soaring concert ticket prices.

The book industry has gone through a series of consolidations in recent years and critics feared another big merger would reduce competition while making life harder for smaller publishers.

Penguin is by far the US’s largest publisher already. Its writers include the cookbook author Ina Garten and novelists Zadie Smith and Danielle Steel, while Simon & Schuster publishes Stephen King, Jennifer Weiner and Hillary Rodham Clinton, among others.

The US justice department filed a lawsuit aimed at stopping the deal in November 2021.

In hearings held in August, the government argued that the largest five publishers control 90% of the market, and a combined Penguin and Simon & Schuster would control nearly half of the market for publishing rights to blockbuster books, while its nearest competitors would be less than half its size.

King, author of bestsellers including The Stand and The Shining, was among the authors and agents who testified during the trial, arguing it would reduce competition.

“You might as well say you’re going to have a husband and wife bidding against each other for the same house. It’s kind of ridiculous,” King told the court. “Consolidation is bad for competition.”

Reuters contributed to this story

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Scientists Analyzed Penguin DNA And Found Something Quite Remarkable

Penguins are no strangers to climate change. Their life history has been shaped by rising and falling temperatures, and their bodies are highly specialized for some of Earth’s most extreme conditions.

 

And yet, scientists are concerned the evolutionary path of the penguin may be grinding to a halt, thanks to what appears to be the lowest evolutionary rates ever detected in birds.

A team of international researchers has just published one of the most comprehensive studies of penguin evolution to date, which is the first to integrate data from living and fossil penguin species.

The research unveils the tumultuous life history of penguins in general, with three-quarters of all known penguin species – now represented by fossils only – already extinct.

“Over 60 million years, these iconic birds have evolved to become highly specialized marine predators, and are now well adapted to some of the most extreme environments on Earth,” the authors write.

“Yet, as their evolutionary history reveals, they now stand as sentinels highlighting the vulnerability of cold-adapted fauna in a rapidly warming world.”

On land, penguins can appear a bit ridiculous, with their awkward waddle and seemingly useless wings. But underwater, their bodies are transformed into hydrodynamic torpedoes that would make any fleeing fish wish it could fly.

 

Penguins had already lost their ability to fly 60 million years ago, before the formation of the polar ice sheets, in favor of wing-propelled diving.

The fossils and genomic data suggest the unique features that enable penguins’ aquatic lifestyles emerged early in their existence as a group, with rates of evolutionary change generally trending downwards over time.

The scientists think penguins originated on a Gondwanan micro-continent called Zealandia, which is now mostly submerged under the ocean.

The paper suggests the ancestors of modern penguins – crown penguins – emerged approximately 14 million years ago, a whole 10 million years after genetic analyses have hinted at.

This particular period would coincide with a moment of global cooling named the middle Miocene climate transition. Living penguins, however, split into separate genetic groups within the last 3 million years.

Penguins spread out across Zealandia before dispersing to South America and Antarctica multiple times, with later groups likely hitching a ride on the Antarctic Circumpolar Current.

The scientists found that almost every penguin species experienced a period of physical isolation during the Last Glacial Period.

 

Their contact with other penguins was limited during this time, as groups were forced to live in more fragmented areas of habitat further north, where they could still find food and shelter.

As a result, the DNA pool of each group became narrower, pushing species further apart genetically.

In the period of warming that followed, they moved back towards the poles, and some groups, now much more genetically distinct, crossed paths once more.

The way certain groups of penguins experienced these significant climate events offers insight into how they might cope with human-caused climate change.

The groups that increased in number when warming occurred shared some features: They were migratory, and foraged offshore. The researchers think these features allowed them to respond to changing climates better, especially the ability to look further afar for prey and to move to lower latitudes.

Those that decreased in number, on the other hand, lived in one particular place, and foraged closer to shore for food: a lifestyle that doesn’t cope too well when the conditions ‘at home’ drastically change.

 

But penguins’ ability to change might be limited by more than just lifestyle – it seems to be embedded in their genes.

It turns out that penguins have the lowest evolutionary rates yet detected in bird species, along with their sister order, Procellariiformes, which includes birds like petrels and albatrosses.

The researchers compared 17 different orders of birds overall, using several genetic signatures closely related to rates of evolutionary change.

They noticed that aquatic birds generally had slower rates of evolution than their terrestrial kin, so they think the adoption of an aquatic lifestyle might go hand-in-hand with low evolutionary rates. They also think that evolutionary rates in birds are lower in cooler climates.

The order Pelecaniformes, which includes seafaring birds like pelicans and cormorants, were a near third for lowest evolutionary rate, and waterfowl (order Anseriformes) had much lower rates than earthbound fowls like turkeys, chickens, and quails (order Galliformes).

The researchers note that the ancestral crown penguins evolved at a faster rate than living penguins, but even then, this was slow compared to other birds.

Half of all living penguin species are endangered or vulnerable, and the scientists say their slow evolutionary rates and niche lifestyles could send penguins towards a dead end.

“The current pace of warming combined with limited refugia in the Southern Ocean will likely far exceed the adaptive capability of penguins,” they write.

“The risks of future collapses are ever-present as penguin populations across the Southern Hemisphere are faced with rapid anthropogenic climate change.”

This research was published in Nature Communications.

 

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Marc-Andre Fleury might not be comfortable coming to Washington in a trade, ‘He’s still very much a Penguin’

The Washington Capitals and Pittsburgh Penguins have one of the biggest rivalries in hockey, but over the years it has cooled. The two teams have not met in the playoffs since 2018 and multiple Penguins players have signed with the Capitals (Orpik, Niskanen, Schultz). Both teams have won Stanley Cups and Alex Ovechkin and Sidney Crosby’s legendary statuses in the NHL are cemented.

But the rivalry still apparently lives on for goaltender Marc-Andre Fleury, who has become the subject of trade rumors approaching the NHL’s March 21 deadline.

Tuesday, Sportsnet’s Elliotte Friedman reported that the Capitals were looking into acquiring the veteran goaltender from the Chicago Blackhawks as its young goaltending duo of Vitek Vanecek and Ilya Samsonov has struggled to provide league-average goaltending.

Wednesday, Friedman spoke more on the topic during Sportnet’s The Jeff Marek Show and revealed a potential MAF-to-DC trade would take a lot of convincing on the Capitals’ end.

“I think the Capitals are interested,” Friedman said. “Do you remember when Josh Gorges was going to be traded from Montreal to Toronto and he refused to go? Yeah, he said I can’t do that. I think that’s a very big thing here.

“I am not convinced that Fleury would be comfortable doing it,” Friedman added. “He’s still very much a Penguin and I think sometimes we underestimate how much passion there is in these rivalries. I do think the Capitals are very interested. I do think they’d love to do it. We have two months here, but I’m not convinced that Fleury would feel comfortable doing that at all.”

MAF will likely have a lot of pull on wherever he ends up landing if the Blackhawks do indeed trade him as a rental at the trade deadline. Fleury has a 10-team no-trade list and, according to the Daily Faceoff’s Frank Seravalli, Chicago agreed to not move the future Hall of Famer anywhere unless he was comfortable with it.

Fleury was on the Penguins in 2016 and 2017 as they beat the Capitals in the second round en route to consecutive Stanley Cups. In 2018, he was the starter for the Vegas Golden Knights as they fell in five games to Ovechkin and the Caps in the championship series.

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