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The New York Times: Justice Dept. and Penguin Random House’s Sparring Over Merger has BegunAugust 01, 2022
Trial began on Monday over the US Department of Justice’s challenge to Penguin Random House’s proposed US$2.18 billion acquisition of Simon & Schuster. The DOJ contends that the merger would harm publishing rights to “anticipated top-selling books.” In his opening statement, Penguin’s lead counsel Daniel Petrocelli argued that the government's specific focus on anticipated best-selling books in the industry “is not grounded in reality.” Petrocelli said, “Every book is a dream. And sometimes dreams come true, and sometimes they don't.”
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