The Justice Department sues to block Penguin Random House's proposed acquisition of Simon & Schuster, citing its potential harm to authors
New York The Justice Department is suing to block Penguin Random House's proposed acquisition of Simon & Schuster, arguing that the combination of the two book business giants"would likely harm competition in the publishing industry."
Tuesday's complaint in United States District Court is one of the first major antitrust actions by the Biden administration.The publishers said they are prepared to defend the deal in court, calling it"a pro-consumer, pro-author, and pro-book seller transaction."Penguin Random House and Simon & Schuster are two members of the"Big Five," the industry's term for the five biggest publishers in the United States.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Justice Department Sues to Block Penguin Random House’s Acquisition of Simon & SchusterThe Justice Department’s antitrust lawsuit alleges the almost $2.18 billion deal would allow Penguin Random House to exert outsized influence over which books are published in the U.S. and how much authors are paid.
Consulte Mais informação »
Justice Department files antitrust suit to block $2 billion merger of Penguin Random House, Simon & SchusterThe Biden administration on Tuesday sued Penguin Random House and Simon & Schuster to block the two companies from completing a $2.175 billion merger.
Consulte Mais informação »
U.S. Government Files Antitrust Suit to Block ViacomCBS’ Sale of Simon & SchusterThe government alleges that the $2 billion deal would give buyer 'Penguin Random House outsized influence over who and what is published.'
Consulte Mais informação »
US files antitrust suit to stop major book publisher mergerU.S. regulators are suing to block a $2.2 billion book publishing deal that would have merged Penguin Random House with Simon & Schuster. The Department of Justice filed an antitrust suit saying consolidation would hurt authors and readers.
Consulte Mais informação »
A divided Supreme Court weighs Texas abortion law for the third timeWhile the lawyers will argue over procedure, the overriding question is whether the conservative court will stand in the way of a state’s bid to stop abortions. So far, the answer has been no.
Consulte Mais informação »
U.S. Arrests Fugitive Chinese Businessman, Alleging Visa FraudA fugitive Chinese businessman who has been living large in California in recent years was arrested in Las Vegas on allegations of entering the U.S. using fraudulently obtained visas
Consulte Mais informação »