Every day, the DealBook newsletter helps subscribers makes sense of the latest business and policy news. Here are some of the stories in today’s edition:
News Corp bids for Simon & Schuster. Rupert Murdoch’s media company, which owns HarperCollins, is one of two finalists to acquire the book publisher, The New York Times’s Ed Lee reports. (The other is Bertelsmann, which owns Penguin Random House.) A deal would substantially consolidate the book publishing industry, giving Mr. Murdoch ownership of titles by top authors like Stephen King and several hit books critical of President Trump.
Airbnb opens its books for its I.P.O. The home-rental giant filed its offering prospectus yesterday, revealing how it has been affected by the pandemic. Revenue in the first nine months of 2020 was down 32 percent, to $2.5 billion, while net losses doubled, to $697 million. Like other tech companies, it has created multiple classes of stock that give its founders disproportionate control.
Judy Shelton’s Fed nomination grows shakier. President Trump’s controversial pick for the central bank faced new opposition, as Senator Lamar Alexander, Republican of Tennessee, said he would vote against Ms. Shelton’s nomination. A confirmation vote may come down to a tiebreaker decided by Vice President Mike Pence.
Elsewhere in the newsletter, DealBook reporters note how President-elect Joe Biden was expected to seek the middle ground on an economic rescue package, but in his first major policy speech he seemed steeled for a fight. Analyzing political donations for the upcoming Georgia Senate runoff elections, it looks like the private equity industry is investing in government gridlock, backing the Republican incumbents after donating more, on balance, to Mr. Biden’s campaign than President Trump’s. And with the departure of one of Goldman Sachs’s best-known rain makers, Gregg Lemkau, M.&A. may have less sway at the Wall Street giant.