U.S. judge says Penguin Random House giant book merger cannot go forward
Written by Black Hot Fire Network on October 31, 2022
WASHINGTON, Oct 31 (Reuters) - A planned $2.2 billion merger of Penguin Random House, the world's largest book publisher, and rival Simon & Schuster cannot go forward, a judge ruled on Monday.
Unlike most merger fights, which are focused on what consumers pay, this one focused on authors' earnings. The government argued that the deal would lead to lower advances . . .
