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Reuters: Stephen King Going to Bat for US Gov’t in Case Against Book Publishing Mega-Merger

August 01, 2022

The US Department of Justice’s trial against Penguin Random House and Simon & Schuster began on Monday in an attempt to block a US$2.2 billion merger between the two publishing giants. The government’s case focuses on advances paid to the most successful authors, typically those given US$250,000 or more. Penguin’s defense is led by Daniel Petrocelli, who successfully defended AT&T’s merger with Time warner against a DOJ antitrust suit in 2018. Penguin argues that the merger will ultimately make the market for books and for publishers to win authors even more competitive. 

Reuters subscribers can read the full article here.