It reaffirms that the antitrust laws protect competition for the acquisition of goods and services from workers.”
#Prh simon and schuster free
The Department of Justice likewise hailed the verdict as “a victory for authors, readers, and the free exchange of ideas.” Jonathan Kanter, Assistant Attorney General, added that, “The decision is also a victory for workers more broadly. AG president Doug Preston said, “This is the first time a court has recognized what authors and the Authors Guild have been arguing for decades: that consolidation among publishers hurts authors.” In its statement, the Authors Guild “celebrated” the ruling. The Justice Department is claiming that a Penguin Random HouseSimon & Schuster merger would suppress competition for top sellers, driving down. publishing rights to anticipated top-selling books.” Penguin Random House (PRH) and Simon & Schuster imprints will continue to bid competitively against each other once the acquisition of S&S by Bertelsmann has closed, PRH c.e.o. “Pan wrote in her order, ‘Upon review of the extensive record and careful consideration of the parties’ arguments’, the government successfully showed that the effect of the proposed merger, ‘may be to substantially to lessen competition’ in the market for the U.S. “In a twist, the public opinion was not made available-the parties are now in the process of agreeing on redactions to protect confidential information,” reports Andrew Albanese, Publishers Weekly senior writer
attorney general Merrick Garland saying the deal, if consummated, would give Penguin Random House “unprecedented control over this important industry.” Nearly a year before, Penguin Random House parent Bertelsmann announced its proposed acquisition of Viacom CBS subsidiary Simon & Schuster for $2.175 billion. Department of Justice announced its suit to block the deal, with U.S. The case is currently the subject of antitrust proceedings, with the Department of Justice (DOJ) on one side, and PRH, who is the party that would be purchasing Simon & Schuster, on the other.
Judge Pan’s ruling blocked PRH’s proposed acquisition of its “Big Five” rival Simon & Schuster. Pan handed out a “trick” for Penguin Random House and a “treat” for the US Department of Justice. On Monday, Halloween, Federal Judge Florence Y.
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