Wednesday, 12 April, 2023
U.S. asks judge to halt Penguin Random House/Simon & Schuster merger worth $2.2B
<p>U.S. Justice Department urged a U.S. judge to halt a $2.2B merger of two of the "Big Five" publishers of books, arguing that "competition matters" and that the sector shouldn't be treated differently from others. The Justice Department filed a lawsuit last year to block Penguin Random House's purchase of Simon & Schuster from Paramount Global. 90% of the market is controlled by the top five publishers, and the combined entity would own half of it, according to government.</p>
Read full story at Reuters
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