WASHINGTON (AP) — A federal judge has presented a case full of data as he blocks Simon & Schuster’s proposed purchase of Penguin Random House, giving the Biden Justice Department a victory in its dispute over two of the world’s largest publishers. collecting Fierce competition for best-selling books.
In her ruling filed Monday, U.S. District Court Judge Florence Payne also dismissed as irrelevant the publishers’ claim that Penguin Random House would be the best “home” for Simon & Schuster and other buyers — specifically As private equity firms – can destroy it. . That argument is irrelevant to the case and his decision, Penn wrote, which turns only on the issue of how mergers will affect competition.