11-01-2022, 05:12 PM | #1 |
Grand Sorcerer
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Simon & Schuster merger blocked by federal judge
A federal judge has blocked Penguin Random House’s proposed purchase of Simon & Schuster.
https://www.pbs.org/newshour/nation/...-federal-judge This ruling is subject to appeal. The Justice Department emphaised potential harm to authors rather than potential harm to book purchasers. |
11-01-2022, 06:20 PM | #2 |
Wizard
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Hm, have followed this somewhat and know Stephen King testified as to his opinion also. Not fully sure which way I lean on it.
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11-02-2022, 08:22 AM | #3 |
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Bigger is not necessarily better.
Apache |
11-05-2022, 09:54 AM | #4 |
the rook, bossing Never.
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11-11-2022, 09:24 PM | #5 | |
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Maybe good public interest reasons for the merger exists, but I didn't see any in the links. This, from the first link, sounded utterly absurd (as King essentially said in the #4 link):
Quote:
It might however, be that the publishers should have an antitrust exemption to ban together in a trade organization that negotiates terms with Amazon as a group. |
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11-22-2022, 07:29 PM | #6 |
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The sale by paramount of Simon and Schuster to Penguin is off. I think this is good. Competition helps consumers.
https://www.msn.com/en-us/money/comp...se/ar-AA14q0EI |
12-01-2022, 11:42 AM | #7 |
Wizard
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Paramount still wants/plans to sell, will have to find a different buyer. If they can't find another buyer, wonder if they will just be shut down completely. That won't help the authors who have current contracts or backlogs. It also will result in the same effect of if Penguin/Random house had bought them in the first place - one less large publishing house for competition from the current "Big Four", or as some still say "Big Five"
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