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Justice Department sues to block Penguin Random House acquisition of S&S

justice-department-sues-to-block-penguin-random-house-acquisition-of-ss Justice Department sues to block Penguin Random House acquisition of S&S

Nov 02 2021

The U.S. Department of Justice has sued to block Penguin Random House parent company Bertelsmann’s proposed acquisition of Viacom CBS subsidiary Simon & Schuster, arguing that it “would result in substantial harm to authors.” … The DoJ alleges that the proposed acquisition would “enable Penguin Random House, which is already the largest book publisher in the world, to exert outsized influence over which books are published in the United States and how much authors are paid for their work.” (Penguin Random House is the world’s third largest publisher, but its largest trade publisher — i.e. publisher of books for general readers).

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