Stephen King set to testify for govt in books merger trial

WASHINGTON — As the Justice Department bids to convince a federal judge that the proposed merger of Penguin Random House and Simon & Schuster would damage the careers of some of the most popular authors, it is leaning in part on the testimony of a writer who has thrived like few others: Stephen King.

“The more the publishers consolidate, the harder it is for indie publishers to survive," King tweeted last year. He may not have the business knowledge of Pietsch, the DOJ's first witness, but he has been a published novelist for nearly 50 years and knows well how much the industry has changed: Some of his own former publishers were acquired by larger companies. “Carrie," for instance, was published by Doubleday, which in 2009 merged with Knopf Publishing Group and now is part of Penguin Random House.

“Inside I was turning cartwheels," Hard Case co-founder Charles Ardai would remember thinking when King contacted him.

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Stephen King goes to bat for U.S. government in case against book publishing mega-mergerIn case of Penguin Random House and Simon & Schuster merger, U.S. government focused on advances paid to the most successful authors, especially those given $250,000 or more Stephen King is an alt left loser
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Stephen King goes to bat for U.S. government in case against book publishing mega-mergerIn case of Penguin Random House and Simon & Schuster merger, U.S. government focused on advances paid to the most successful authors, especially those given $250,000 or more Stephen King is an alt left loser
مصدر: globeandmail - 🏆 5. / 92 اقرأ أكثر »

What's at stake as book publishing merger faces U.S. antitrust trialPenguin Random House announced its bid to acquire Simon & Schuster in November 2020. The deal -- combining two of the top five book publishers in the United States -- normally would have taken effect by now. But the U.S. Justice Department is standing in the way, and an antitrust trial is set to begin on Monday. CdnMediaFailed
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