A federal judge has blocked publisher Penguin Random House from acquiring rival Simon & Schuster Inc. for $2.175 billion, ruling in favor of the Justice Department. “Upon review of the extensive record and careful consideration of the parties’ arguments, the Court finds that the United States has shown that ‘the effect of [the proposed merger] may be…
Judge Blocks Penguin Random House From Acquiring Rival Simon & Schuster
Lawsuits Alleging Conspiracy Between Amazon and Book Publishers Dismissed by Judge
October 3, 2022
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Two antitrust lawsuits that accused Amazon and five big book publishers of illegally conspiring to fix prices of traditional and electronic books in the United States were dismissed on Thursday by a federal judge. The five book publishers targeted by the two lawsuits were Macmillan, HarperCollins, Simon & Schuster, Hachette, and Penguin Random House. The…
DOJ Files Antitrust Lawsuit to Block $2 Billion Merger of Major Book Publishing Companies
The Department of Justice filed an antitrust lawsuit on Nov. 2 to block a merger of two major book publishing companies. Penguin Random House, the largest book publisher in the world, is seeking to acquire its competitor, Simon & Schuster, for $2.18 billion. The sale was announced in November 2020. The DOJ said the acquisition would…
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