Justice Department moves to prevent the $2.2 billion merger.
The trial between Penguin Random House and the Justice Department began on Monday in the District of Columbia U.S. District Court in Washington. The Justice Department has filed suit to prevent Penguin Random House from executing a $2.2 billion merger with American book publisher Simon & Schuster, which would reduce the largest U.S. publishers from five companies to just four.
“If the world’s largest book publisher is permitted to acquire one of its biggest rivals, it will have unprecedented control over this important industry. American authors and consumers will pay the price of this anticompetitive merger – lower advances for authors and ultimately fewer books and less variety for consumers,” said Attorney General Merrick Garland at the complaint filing in November.
As the Lord Leads, Pray with Us…
- For the attorney general as he leads the Justice Department.
- For federal attorneys as they seek to protect competition and prevent monopolies.
Sources: AP, Justice Department
