Associated Press: CEO of Publishing Giant Defends Deal Challenged by US Gov’t

August 04, 2022

Penguin Random House CEO Markus Dohle testified at a federal antitrust trial in which the US Department of Justice is challenging a proposed US$2.2 billion merger between his company and Simon & Schuster. During questioning from Penguin’s lead counsel, Daniel Petrocelli, Dohle described the publishing industry as fiercely competitive but also being threatened by subscription-based content. “I think it's the biggest threat to the industry, and especially author income,” Dohle said. “It will have a tectonic influence on the revenue pool of the industry.” 

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