Law360: DOJ Set To Pitch Book Publisher Merger Challenge To Judge
July 29, 2022
Trial over Penguin Random House’s proposed US$2.18 billion merger with Simon & Schuster begins on August 1. The US Department of Justice is seeking to block the merger over claims that it would give Penguin “outsized influence” over the book publishing industry. O’Melveny & Myers LLP partner Daniel M. Petrocelli, who is leading Penguin’s defense, said that the deal would strengthen competition among publishers. “More competition to sell books means more competition to acquire them from authors,” Petrocelli said. “The Department of Justice’s lawsuit misunderstands that competitive dynamic and many others. As trial will show, this acquisition will benefit readers, booksellers and authors alike.”
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