in the news
The Hollywood Reporter: Stephen King in Books Merger Trial: “Consolidation Is Bad for Competition”August 02, 2022
Best-selling author Stephen King testified as a witness on Tuesday as part of the Justice Department’s antitrust trial against Penguin Random House and Simon & Schuster, seeking to block a proposed US$2.2 billion merger between the two publishing giants. Daniel Petrocelli, lead counsel for Penguin, did not have any questions for King. In his opening statement, Petrocelli argued that the book industry was diverse, profitable, and open to newcomers. “Every book starts out as an anticipated bestseller in the gleam of an author’s or an editor’s eye,” Petrocelli said.
The Hollywood Reporter subscribers can read the full article here.