![]() They also were stymied in their effort to block the roughly $8 billion acquisition by UnitedHealth Group, which runs the largest U.S. ![]() The prosecutors signaled that they intended to appeal the decision. sugar, from acquiring its rival Imperial Sugar Co., one of the largest sugar refiners in the nation. The DOJ lost its bid to block a major U.S. Monday's news follows recent losses for the department in two significant antitrust cases in separate federal courts. The Biden Justice Department has been pushing forward with aggressive enforcement of federal antitrust laws that officials say aim to ensure a fair and competitive market. King tweeted Monday that he was "delighted" by the ruling, adding: "The proposed merger was never about readers and writers it was about preserving (and growing) PRH's market share. The joining of Penguin Random House and Simon & Schuster would have created a company far exceeding any rival and those opposing the merger included one of Simon & Schuster's signature writers, Stephen King, who testified last summer on behalf of the government. The publishing industry has been consolidating for years with little interference from the government, even when Random House and Penguin merged in 2013 and formed what was then the biggest publishing house in memory. Penguin Random House quickly condemned the ruling, which it called "an unfortunate setback for readers and authors." In its statement Monday, the publisher said it would seek an expedited appeal.īut it was still a dramatic departure from recent history in the book world and beyond. Pan announced the decision in a brief statement Monday, adding that much of her ruling remained under seal at the moment because of "confidential information" and "highly confidential information." She asked the two sides to meet with her Friday and suggest redactions. NEW YORK - A federal judge has blocked Penguin Random House's proposed purchase of Simon & Schuster, agreeing with the Justice Department that the joining of two of the world's biggest publishers could "lessen competition" for "top-selling books." The ruling was a victory for the Biden administration's tougher approach to proposed mergers, a break from decades of precedent under Democratic and Republican leadership. A book published by Simon & Schuster is displayed on Saturday, July 30, 2022, in Tigard, Ore.
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