Quad/Graphics, LSC Call Off $1.4B Merger After Justice Dept. Suit

A month after pledging to "vigorously defend" its proposed $1.4 billion acquisition of rival publication printer LSC Communications in the face of a Justice Department lawsuit challenging the deal, Quad/Graphics announced on Tuesday that the two companies have agreed to end the fight. The proposed merger—which was first announced last October and approved by both companies' shareholders in February—faced opposition from groups like the Authors Guild and free speech advocate PEN America, who argued that combining "the two sole competitors in the long-run magazine and book printing markets" would create a dangerous monopoly that could further beleaguer print magazine and book publishers. In separate statements, both Quad/Graphics and LSC reaffirmed their disagreement with the Justice Department's assessment of the deal, but reasoned that the benefits of the merger would be outweighed by the delays and legal costs associated with fighting the DOJ lawsuit. As the blog Dead Tree Edition noted, a federal judge denied a request from the two printers for an expedited trial last week, meaning that even if it were ultimately approved, the proposed merger likely wouldn't come into effect until sometime next year. "In the United States, Quad and LSC’s printing and distribution resources vastly exceed those of other competitors and the two serve as the only realistic options for many publishers and retailers that rely on these firms’ resources and experience to ensure that... Continue reading at 'Folio Magazine'

[ Folio Magazine | 2019-07-23 16:26:38 UTC ]
News tagged with: #realistic options #timely manner #intense rivalry #popular magazines #meredith corp #mpa declined #cond nast #immediately respond #print today #prolonged litigation #clients benefit #exciting innovations #february—faced opposition #hearst #authors guild

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Quad, LSC Call Off Merger

Quad and LSC Communications announced this morning that they have mutually agreed to call off the planned purchase of LSC by Quad following a DoJ lawsuit. Continue reading at Publishers Weekly

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Judge Sets November Trial in Suit to Block Quad's Purchase of LSC

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McGraw-Hill, Cengage Call Off Merger

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2 Big Book and Magazine Printers Face Suit to Block Their Merger

The U.S. Justice Department is suing to stop the proposed $1.4 billion deal between Quad/Graphics and LSC Communications on antitrust grounds. Continue reading at The New York Times

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