Judge blocks Penguin Random House-Simon & Schuster merger

Link copiedA federal judge has blocked Penguin Random House’s proposed purchase of Simon & Schuster, agreeing with the Justice Department that the joining of two of the world’s biggest publishers could “lessen competition” for “top-selling books.”

Penguin Random House quickly condemned the ruling, which it called “an unfortunate setback for readers and authors.” In its statement Monday, the publisher said it would immediately seek an expedited appeal. He added: “The proposed merger would have reduced competition, decreased author compensation, diminished the breadth, depth, and diversity of our stories and ideas, and ultimately impoverished our democracy.”

But it was still a dramatic break from recent history in the book world and beyond. The publishing industry has been consolidating for years with little interference from the government, even when Random House and Penguin merged in 2013 and formed what was then the biggest publishing house in memory. The joining of Penguin Random House and Simon & Schuster would have created a company far exceeding any rival.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

$2.2 Billion Penguin Random House-Simon & Schuster Merger Blocked by Federal JudgePrior to the federal judge's decision, the publishing industry had been consolidating for years with little interference from the government.
Sumber: NBCLA - 🏆 319. / 59 Baca lebih lajut »

Judge blocks $2.2 billion merger of Penguin Random House and Simon & SchusterA federal judge blocked Penguin Random House's move to acquire rival publisher Simon & Schuster in a win for the Biden administration. Now block the Kroger-Albertsons merger please. When are they going to stop Amazon from buying up everything they can get their hands on?
Sumber: axios - 🏆 302. / 63 Baca lebih lajut »

Judge Blocks Penguin Random House Merger With Simon & SchusterA federal judge ruled in favor of the Justice Department in its effort to block to merger of Penguin Random House with Simon & Schuster. In granting an injunction to halt the transaction, Judge… The Biden era DOJ should tell Disney to sell off 20th Century Studios! HoegLaw, big update! Also cant believe your initial video on this is from almost exactly a year ago. Time flies.
Sumber: DEADLINE - 🏆 109. / 63 Baca lebih lajut »