Law360: Penguin CEO Says Simon & Schuster Deal Is For Market Share

Penguin Random House CEO Markus Dohle was called as witness to testify in a trial where the Justice Department is seeking to block his company’s US$2.18 purchase of Simon & Schuster. During questioning from Daniel M. Petrocelli, a partner at O’Melveny & Myers LLP who is leading Penguin’s defense, Dohle noted that “all access” subscription services pose the largest threat to the publishing industry because reductions in individual book sales would have a “huge effect on author income and with that, on the diversity of work that gets published.” Penguin is represented by Petrocelli, M. Randall Oppenheimer, Andrew Frackman, Abby F. Rudzin, Jonathan Hacker, Courtney Dyer, and Julia Schiller of O’Melveny & Myers LLP.

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