Law360: DOJ Challenging Penguin’s $2.2B Simon & Schuster Deal
November 2, 2021
The US Department of Justice filed a lawsuit against publisher Penguin Random House LLC’s bid to acquire its rival Simon & Schuster from ViacomCBS Inc. The DOJ said that the US$2.175 deal would make the new company the largest publisher in the United States and that it would “control close to half of the market for the acquisition of publishing rights to anticipated top-selling books.” Penguin turned to O’Melveny partner Daniel Petrocelli, who successfully defended AT&T’s purchase of Time Warner against a DOJ suit, to serve as lead trial counsel in the case.
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