NEW YORK (AP) — A federal judge has blocked Penguin Random House’s proposed purchase of Simon & Schuster. The judge issued a brief ruling Monday, agreeing with the Justice Department that the joining of two of the world’s biggest publishers could “lessen competition” for “top-selling books.” Much of U.S. District Judge Florence Y. Pan’s ruling remains under seal because it contains confidential information. Penguin Random House has condemned the ruling, calling it “an unfortunate setback for readers and authors.” The Justice Department says the merger would decrease competition and cut down on the depth and diversity of stories and would have “ultimately impoverished” democracy.
Judge blocks Penguin Random House-Simon & Schuster merger
