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The Wall Street Journal: Trial Ends in Government Challenge to Penguin Random House and Simon & Schuster MergerAugust 19, 2022
Closing arguments were held today in the US Department of Justice’s trial challenging Penguin Random House’s merger with Simon & Schuster. Daniel Petrocelli, a lawyer representing Penguin, said no one in the industry views “anticipated top-selling books” as a distinct market and that the government is focusing on this small part of the industry because it can’t prove the acquisition would harm consumers. US District Judge Florence Pan, who oversaw the three-week nonjury trial, has not said when she will deliver a ruling.
The Wall Street Journal subscribers can read the full article here.