A federal judge has blocked Penguin Random House’s prospective purchase of Simon & Schuster. The merger would have united two of the country’s largest book publishers.
New York Times
After the three-week trial concluded in August, the ultimate decision marks a major win for the Biden administration and its emphasis on antitrust enforcement. The high-profile trial was watched closely by the literary world and included testimony from executives of both publishers, who argued that a merger would allow cost-saving opportunities, which would benefit writers.. The acclaimed horror writer, long aligned with Simon & Schuster, argued strongly against the merger, stating that “consolidation is bad for competition” and that “it becomes tougher and tougher for writers to find money to live on.
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