Merrick Garland USA Germany Department BLOCK Merrick Garland USA Germany

Justice Department Sues to Block ViacomCBS’ Sale of Simon & Schuster to Penguin Random House

Reading now: 192
variety.com

Cynthia Littleton Business EditorThe Justice Department has filed an anti-trust lawsuit against to block ViacomCBS’ sale of publisher Simon & Schuster to Penguin Random House, asserting that it would give the enlarged company too much power over the book business.ViacomCBS set a deal with Germany’s Bertelsmann, parent company of Penguin Random House, to sell Simon & Schuster for $2.1 billion in November 2020.“Books have shaped American public life throughout our nation’s history, and authors are the lifeblood of book publishing in America.

But just five publishers control the U.S. publishing industry,” Attorney General Merrick Garland said. “If the world’s largest book publisher is permitted to acquire one of its biggest rivals, it will.

Read more on variety.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA