WASHINGTON (Reuters) – Horror author Stephen King said in testimony Tuesday in a trial to determine if Penguin Random House will be allowed to merge with Simon & Schuster that consolidation in the book industry is bad for competition.
In a trial, which began on Monday, the U.S. Justice Department is arguing that a federal judge should block a $2.2 billion merger of two of the “Big Five” book publishers in a trial that is expected to also feature testimony from the chief executives of the two publishers. [L1N2ZD1D1]
(Reporting by Diane Bartz)
