Open Modal
  • Home
  • Shows
    • Weekdays
    • Weekends
    • Weekend Program Schedule
  • Events
  • Podcasts
    • Catholic Cemeteries Association
    • The Talk Of Connecticut
  • Contests
    • Contests
    • Contest Rules
    • Contest Rules- Patriot Bucks
  • More
    • Contact Us
MENU
  • Home
  • Shows
    • Weekdays
    • Weekends
    • Weekend Program Schedule
  • Events
  • Podcasts
    • Catholic Cemeteries Association
    • The Talk Of Connecticut
  • Contests
    • Contests
    • Contest Rules
    • Contest Rules- Patriot Bucks
  • More
    • Contact Us

U.S Justice Department sues against Penguin Random House’s acquisition of Simon & Schuster

November 3, 2021 Staff
  • News Daypop
  • Tweet
  • Share
  • Reddit
  • +1
  • Pocket
  • LinkedIn
shutterstock_2060334035

On Tuesday, the U.S Justice Department sued against Penguin Random House’s planned acquisition of one of its main competitors, Simon & Schuster. The Biden administration said the acquisition would enable the publishing company to “exert outsized influence over which books are published in the United States and how much authors are paid for their work.”

Penguin Random House, the largest book publisher in the world, promised earlier this year to allow Penguin Random House and Simon & Schuster editors to bid against each other post-acquisition. However, the Justice Department believes the proposed merge would cut back on “this important competition” and result in lower advances for authors. Attorney General Merrick Garland said: “The complaint filed today to ensure fair competition in the U.S. publishing industry is the latest demonstration of the Justice Department’s commitment to pursuing economic opportunity and fairness through antitrust enforcement.”

Filed in the U.S. District Court for the District of Columbia, the Justice Department’s complaint said that if Penguin Random House acquires Simon & Schuster for a proposed $2.18 billion, it would put the former in control of close to half of the publishing market for top-selling books. In response to the lawsuit, the two publishing companies said they planned to fight the lawsuit.

Editorial credit: Alejandro Guzmani / Shutterstock.com

Leave a Reply Cancel Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Previous Story
Las Vega Raiders’ receiver Henry Ruggs III faces DUI charge in fatal crash
Next Story
CDC advisory unanimously recommends Pfizer’s COVID-19 vaccine for children 5-11 years old

Site

  • Privacy Policy
  • Terms of Use
  • Contact Us
  • Streaming Help
  • EEO Report
  • WMMW Public File
  • WDRC Public File
  • WSNG Public File

Info

  • VIP Club
  • Contests
  • Events

News

  • Community Calendar
  • Podcasts
WDRC-AM – Bloomfield, CT © 2025 Powered by OneCMS™ | Served by InterTech Media LLC
Are you still listening?
3628718191
Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)
ff1f7385a6d6c4c03fa02b64955f0c971e7baa53
1
Loading...