The U.S. Department of Justice Antitrust Division filed suit to block the proposed acquisition of Simon & Schuster by Penguin Random House for $2.175 billion. This time the primary argument is not on behalf of consumers but authors, and authors of “anticipated top-selling books” in particular. Filing in the Washington, DC District Court, the DOJ alleges violation of Section 7 of the Clayton Act, arguing the acquisition is “likely to substantially lessen competition” for “the acquisition of US publishing rights to books from authors.” That market for “anticipated top-selling books…would be highly concentrated,” the filing argues. “The merger would give […]
