US begins court battle against publishing giants' merger

In an unusual move, the government’s star witness will be, the renowned and genre-transcending author whose works are published by Simon & Schuster. King is expected to testify during the weekslong trial in U.S. District Court in Washington, D.C.

Opposing attorneys for the two sides will present their cases before U.S. District Judge Florence Pan. , whose package deal for their memoirs totaled an estimated $65 million, Bill Clinton, who received $15 million for his memoir, Toni Morrison, John Grisham and Dan Brown., who received $8 million for her memoir, Bob Woodward and Walter Isaacson. And King.

The Justice Department contends that as things now stand, No. 1 Penguin Random House and No. 4 Simon & Schuster, by total sales, compete fiercely to acquire the rights to publish the anticipated hottest-selling books. If they are allowed to merge, the combined company would control nearly 50% of the market for those books, it says, hurting competition by reducing advances paid to authors and diminishing output, creativity and diversity.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

US begins court battle against publishing giants' mergerThe U.S. government and publishing titan Penguin Random House are set to exchange opening salvos in a federal antitrust trial
Fuente: WOKVNews - 🏆 247. / 63 Leer más »

US begins court battle against publishing giants' mergerThe government and publishing titan Penguin Random House are set to exchange opening salvos in a federal antitrust trial Monday as the U.S. seeks to block the biggest U.S. book publisher from absorbing rival Simon & Schuster. The case comes as a key test of the Biden administration’s antitrust policy. The Justice Department has sued to block the $2.2 billion merger, which would reduce the Big Five U.S. publishers to four.
Fuente: YahooNews - 🏆 380. / 59 Leer más »