Sold! Auction House Sotheby’s Sells for $3.7 Billion to Telecom Billionaire

Art auction house Sotheby’s will be taken private by billionaire Patrick Drahi-owned company BidFair USA at a high premium, the company announced Monday. Drahi, a long-time media titan and avid art collector, will take Sotheby’s private after 31 years on the market as a public company at a $3.7 billion price tag. “Sotheby’s is one […]

Centene’s $15 Billion Purchase of WellCare Further Shrinks Health Insurance Market

U.S. health insurance company Centene has announced plans to buy its rival WellCare for $15.27 billion. The deal, valued at $17.3 billion after Centene assumes WellCare’s debts, is the latest consolidation in the health insurance space. Centene seemingly is looking to reduce its dependence on health-care exchanges that are part of the Affordable Care Act, […]

As Disney Lays off 3,000 Workers Post-Merger, Fox Corp. Gives Every Employee Stock Bonuses

Call it a tale of two media giants. In the wake of the $71.3 billion merger between Disney and 21st Century Fox, Disney began taking steps to lay off 3,000 workers Thursday. Meanwhile, every employee who remained at Fox Corp. will receive a modest stock bonus, according to reports. Disney yesterday completed its merger with […]