![]() ![]() The Justice Department contends that as things now stand, No. And King.īruce Springsteen splits the difference: His “Renegades: Born in the USA,” with Barack Obama, was published by Penguin Random House his memoir, by Simon & Schuster. Simon & Schuster counts Hillary Clinton, who received $8 million for her memoir, Bob Woodward and Walter Isaacson. Within Penguin Random House’s constellation are Barack and Michelle Obama, whose package deal for their memoirs totaled an estimated $65 million, Bill Clinton, who received $15 million for his memoir, Toni Morrison, John Grisham and Dan Brown. The two New York-based publishers have impressive stables of blockbuster authors, who’ve sold multiple millions of copies and have scored multimillion-dollar deals. It would benefit readers, booksellers and authors, they say. The publishers counter that the merger would strengthen competition among publishers to find and sell the hottest books, by enabling the combined company to offer bigger advance payments and marketing support to authors. It says the deal would thwart competition and give Penguin Random House gigantic influence over which books are published in the U.S., likely reducing how much authors are paid and giving consumers fewer books to choose from. media and entertainment company Paramount Global. The government contends that it would hurt authors and, ultimately, readers if German media titan Bertelsmann, of which Penguin Random House is a division, is allowed to buy Simon & Schuster, the fourth-largest publisher, from U.S. Penguin Random House countered that the new company would “enhance” competition because the combined company could turn out books more efficiently. Justice Department attorneys called the merger “presumptively wrong” because it would shrink competition and, inevitably, the vital public discourse that books help engender. King’s works are published by Simon & Schuster.Īt Monday’s opening session, opposing attorneys for the two sides presented their cases before U.S. ![]() #THE WITNESS BIRD CALLS TRIAL#The government’s star witness, bestselling author Stephen King, is expected to testify at Tuesday’s session of the weekslong trial in U.S. The Justice Department has sued to block the $2.2 billion merger, which would reduce the Big Five U.S. ![]()
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