May 4, 2020 - Economy & Business

Textbook mega-merger called off

Dan Primack, author of Pro Rata

Illustration: Aïda Amer/Axios

Textbook publishers Cengage and McGraw-Hill on Monday announced the termination of their proposed $5 billion merger, which was originally announced in May 2019.

The bottom line: Lots of M&A deals are being canceled because of the coronavirus, but this one was felled by federal antitrust opposition. The two companies and regulators were unable to agree on what divestitures would be required to gain deal approval.

Go deeper

As techlash heats up again, here's who's stoking the fire

Illustration: Aïda Amer/Axios

As controversies around online speech rage against a backdrop of racial tension, presidential provocation and a pandemic, a handful of companies, lawmakers and advocacy groups have continued to promote a backlash against Big Tech.

The big picture: Companies like Facebook and Google got a reputational boost at the start of the coronavirus lockdown, but that respite from criticism proved brief. They're now once again walking a minefield of regulatory investigations, public criticism and legislative threats over antitrust concerns, content moderation and privacy concerns.

Cities are retooling public transit to lure riders back

Illustration: Sarah Grillo/Axios

After being told for months to stay away from others, the idea of being shoulder to shoulder again in a bus or subway terrifies many people, requiring sweeping changes to public transit systems for the COVID-19 era.

Why it matters: Cities can't come close to resuming normal economic activity until large numbers of people feel comfortable using public transportation.

The policies that could help fix policing

 Illustration: Sarah Grillo/Axios

George Floyd's death has reignited the long and frustrating push to reform a law enforcement system whose systemic flaws have been visible for years.

Why it matters: Solving these problems will require deep political, structural and cultural changes, experts and advocates say — but they also point to a handful of specific policy changes that, while not a cure, would make a difference.