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THE LATEST ARTICLES
William D. Cohan
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January 9, 2025
The Trump M&A Deal Heat
Wall Street has caught M&A fever anticipating the incoming Trump administration, but C.E.O.s may soon regret placing big bets on a scenario rife with what ifs…
William D. Cohan
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January 6, 2025
A P.E. Morality Tale for the Ages
A talmudic reading of the underappreciated saga surrounding VitalCaring Group, a private equity concoction that a Delaware judge has branded a hallmark of modern duplicity.
William D. Cohan
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December 29, 2024
Hollywood’s “Everything Is on the Table” Year
As the new year approaches, a timely conversation with Kim Masters, the legendary entertainment journalist and Puck’s newest partner, on the issues bedeviling Hollywood: the fate of the spinco phenomenon, the future of David Ellison’s Paramount, the never-ending succession speculation at Disney, and much more.
William D. Cohan
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December 22, 2024
SpinCo City
After a year of legacy media conglomerate C.E.O.s alternately putting “everything on the table,” the scope of the real deal activity will become clear in 1H25.
William D. Cohan
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December 18, 2024
Space Cowboys
The rise, fall, and return of Zero-G, the “zero gravity” lower-priced alternative to Blue Origin, which allows tourists and researchers to experience the flavor of space over the Atlantic for 10 grand a pop.
William D. Cohan
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December 15, 2024
Zaz in Cable Wonderland
At first blush, WBD’s chief seems to be following Brian Roberts’ “SpinCo” strategy for his own declining linear assets. But a closer look at the sheer legal and M&A firepower he’s enlisted reveals a debt-reduction/P.E. play that more closely resembles AT&T’s sale of DirecTV.
William D. Cohan
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December 5, 2024
Trump’s Pre-Inaugural Stock Slump
The value of the president-elect’s media company, which is on track to lose an incredible $363 million this year, has bizarrely skyrocketed before the election and is trading at an absurd 2,770x revenue. Will Elon get his taste via a reverse merger?
William D. Cohan
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November 27, 2024
The Apollo Landing That Wasn’t
Last week, Apollo’s Marc Rowan was summoned to Mar-a-Lago to talk about leading the Treasury for Trump 2.0. And while the job went to Scott Bessent in the end, the meeting reveals the president-elect’s sweeping agenda and what some on Wall Street see as a massive opportunity.
William D. Cohan
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November 24, 2024
The Legend of the Celtics L.B.O.
The true story of how Wyc Grousbeck, perhaps the least well-capitalized owner in sports, had the chutzpah to buy the Celtics in one of the greatest deals in modern sports history.
William D. Cohan
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November 21, 2024
Apollo Lands in Washington
As Apollo C.E.O. Marc Rowan prepares to meet with Trump over the Treasury job, a bildungsroman of his professional and deal career—from parking cars at the Diplomat Hotel to big mergers for junk bond casualty Drexel Burnham—and his reflections from our many conversations over the past years and days.
