What happened to Yellow?
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 8 August 2023
⏱️ 7 minutes
🧾️ Download transcript
Summary
Yellow might have declared bankruptcy on Sunday, but some say the writing was on the wall for a decade. We’ll talk to a bankruptcy expert about why the nearly 100-year-old trucking company shut down, and what it could mean for supply chains. Before that, who bought Simon & Schuster, and what’s the deal with PayPal’s new digital currency?
Transcript
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| 0:00.0 | Lessons in any trust, game, economics, and bankruptcy in the news today. |
| 0:07.4 | I'm David Brancacci. |
| 0:08.4 | A good morning to you. |
| 0:09.4 | A famous private equity firm KKR is buying the publisher Simon & Schuster. |
| 0:14.7 | The paramount media conglomerate has agreed to sell the 99-year-old firm for $1.6 billion. |
| 0:20.7 | Penguin head tried to buy Simon & Schuster, but the government said that would hurt competition |
| 0:25.3 | marketplaces Samantha Fields reports. |
| 0:27.4 | Simon & Schuster is one of the biggest book publishers in the country, along with Penguin |
| 0:31.5 | Random House, HarperCollins, Hachette, and Macmillan. |
| 0:34.7 | It's been doing well in the last couple of years. |
| 0:37.2 | Its sale to KKR is subject to government approval, but is not likely to raise the same kind |
| 0:42.0 | of antitrust concerns as the Penguin Random House deal. |
| 0:45.3 | KKR has bought other book-focused companies in recent years, including Overdrive, a digital |
| 0:50.3 | distributor that a lot of libraries use, and the audiobook company RB Media, which |
| 0:55.2 | it just sold. |
| 0:56.6 | If this deal goes through, employees at Simon & Schuster will get equity in the company, |
| 1:00.7 | which is rare in publishing. |
| 1:02.6 | KKR says there will be no layoffs, and that Simon & Schuster will retain editorial |
| 1:07.4 | independence. |
| 1:08.4 | I'm Samantha Fields for Marketplace. |
| 1:11.8 | A powerful financial player has launched its own digital currency. |
| 1:15.6 | It's called PayPal USD, which tells you which company. |
... |
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