A federal judge blocked Penguin Random House's move to acquire rival publisher Simon & Schuster in a win for the Biden administration.
A federal judge blocked on Monday Penguin Random House's move to acquire rival publisher Simon & Schuster in a win for the Biden administration, which has sought to push theThe ruling, which comes after a three-weeklong trial, would significantly impact the publishing industry, though Penguin Random House plans to appeal.
Penguin Random House is the largest book publisher in the U.S., while Simon & Schuster is the fourth largest.District Court Judge Florence Y.
"As we demonstrated throughout the trial, the Department of Justice’s focus on advances to the world’s best-paid authors instead of consumers or the intense competitiveness in the publishing sector runs contrary to its mission to ensure fair competition.
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