U.S. judge says Penguin Random House book merger cannot go forward

Judge Florence Pan of the U.S. District Court for the District of Columbia, said in a brief order on Monday that she found the Justice Department had shown the deal may substantially lessen competition "in the market for the U.S. publishing rights to anticipated top-selling books."

Penguin Random House said the decision was "unfortunate," and said it would "immediately request an expedited appeal." "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," U.S. Assistant Attorney General Jonathan Kanter said in a statement.read more

Penguin Random House lawyer Daniel Petrocelli, who defeated the government in a previous merger challenge, argued during the trial that the deal would have "enormous benefits" for readers and authors alike because the imprints, or brands, owned by the two giants would continue to compete against each other.

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