BBC: Stephen King Testifies Against Merger of Publishing Giants
August 2, 2022
American horror novelist Stephen King testified as a witness for the US Department of Justice in a trial challenging Penguin Random House’s proposed US$2.2 billion acquisition of Simon & Schuster. Daniel Petrocelli, Penguin’s lead attorney, has dismissed the DOJ’s claims that the merger would hurt consumers and authors in the book publishing industry. The “DOJ has not found, nor does it allege, that the combination will reduce competition in the sale of books,” Petrocelli said. “We are confident that the robust and competitive landscape that exists will ensure a decision that the acquisition will promote, not harm, competition.”
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