It could be a while before we know the outcome of the DOJ’s lawsuit to block Penguin Random House’s acquisition of Simon & Schuster, but the action is already resulting in a bull market for clueless reporting and commentary. From Bloomberg, we get an “analysis” from someone so well versed in publishing they think Penguin acquired Random House (I guess because their name is first?): “Admittedly, it doesn’t look like Penguin’s previous acquisition of Random House harmed the market at all.” The author also fails to understand that Simon & Schuster UK is a relatively small operation and was never […]
