The U.S. Justice Department asked a federal judge on Monday to block a $2.2 billion merger of two of the “Big Five” book publishers, Penguin Random House and Simon & Schuster, in a trial that is expected to feature testimony from horror writer Stephen King.Also on Monday, in the same federal courthouse in Washington, the Justice Department argued before a different judge that UnitedHealth Group’s $8 billion deal to buy Change Healthcare should be stopped.
The government also intends to show that there was concern among the merging parties that the deal is not legal. It previously disclosed an email sent by Simon & Schuster CEO Jonathan Karp who wrote: “I’m pretty sure the Department of Justice wouldn’t allow Penguin Random House to buy us, but that’s assuming we still have a Department of Justice.”
Penguin Random House, the largest book publisher in the United States, said it planned to buy rival Simon & Schuster in November 2020. Penguin Random House is owned by German media conglomerate Bertelsmann. Simon & Schuster is owned by ViacomCBS, now Paramount Global. The Justice Department filed its lawsuit in November 2021.
Stephen King is an alt left loser