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Justice Department Obtains Permanent Injunction Blocking Penguin Random House's Proposed Acquisition of Simon & Schuster

10/31/2022 12:00 AM EDT

Today, the U.S. District Court for the District of Columbia ruled in favor of the Justice Department in its civil antitrust lawsuit to block book publisher Penguin Random House's proposed $2.2 billion acquisition of Simon & Schuster. The court found that the effect of the proposed merger would be to substantially lessen competition in the market for the U.S. publishing rights to anticipated top-selling books.

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