US judge blocks $2.2bn Penguin Random House merger
Justice department argued the melding of the publishing house with Simon & Schuster would harm competition and authors’ pay
A US judge has blocked the $2.2bn planned merger of Penguin Random House, the world’s largest book publisher, with rival Simon & Schuster.
Judge Florence Pan of the US district court for the District of Columbia said in a brief order on Monday that she had found that the justice department had shown that the deal would “substantially” harm competition “in the market for the US publishing rights to anticipated top-selling books”.
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