Word: ag
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...gossipy literary circles of New York City, the half-life of an industry secret is generally the next lunch. That's why the announcement last week that German media titan Bertelsmann AG was buying Random House was doubly shocking. Hardly anyone knew that the venerable American publishing institution, a supposedly sacrosanct division of Advance Publications, was for sale. The estimated $1.4 billion deal was negotiated surreptitiously over four months. Indeed, many Random House staff members found out about it by reading the morning newspaper...
...YORK: Continuing the conglomeration of all things media, German giant Bertelsmann AG snapped up America's largest publishing house Monday. Random House, which hires such pen-pushers as Michael Crichton, Norman Mailer and John Updike, was sold for an undisclosed sum. The big news for web users is that Bertelsmann, the world's third-largest media company (behind Time Warner and Disney), is in the midst of creating BooksOnline, a rival to Amazon.com and Barnes & Noble -- which will be a lot more comfortable with Random House's back catalog...
...engineering, combined with tougher FDA requirements, have made the cost of developing a single drug between $400 and $600 million -- about four times what it was 20 years ago. A combined Glaxo and SmithKline could have sunk $3 billion into research and development, compared to $1.8 billion for Novartis AG and $1.5 billion each for Merck & Co. and Pfizer...
...unauthorized, though unspectacular, Justice-beat leaks. Some Justice officials defend the plumbing expeditions as necessary to stem revelations of classified and investigative information. Others deride the internal probes as a panicky overreaction by mid-level officials who are making key decisions while the department's top management jobs (Deputy AG, Associate AG and Assistant AG for the criminal division) lie vacant...
...driven from Mississippi if corporations are held liable for every illness their products cause. "When pepperoni kills 425,000 people a year, we'll go after the pepperoni business," snaps Moore, who won his third term with the backing of friendly plaintiffs' lawyers. "Do you know what the 'AG' in attorney general stands for?" RJR's Donahue asks. "Aspiring Governor...