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 ]
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S&S has decided not to extend the deal's deadline, which prevents PRH from appealing the court's decision to block the merger. Continue reading at Book Riot
[ Book Riot | 2022-11-21 14:58:02 UTC ]
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On November 7, Judge Florence Pan released her memorandum opinion blocking Penguin Random House from acquiring rival Big Five publisher Simon & Schuster. In the final analysis, after a year of legal wrangling and a three week trial, it wasn’t a close case for her at all. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-11-08 05:00:00 UTC ]
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“Words and Bullets” is a project launched by the Ukrainian independent publisher Chytomo and PEN Ukraine with the support of the National Endowment for Democracy (NED). It is a series of interviews with authors and journalists who became soldiers or volunteers following the Russian invasion of... Continue reading at Literrary Hub
[ Literrary Hub | 2022-11-07 09:53:45 UTC ]
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The uncertainty comes at a time when publishing is facing slumping sales after a pandemic boom, and fears of recession. Continue reading at The New York Times
[ The New York Times | 2022-11-01 22:14:42 UTC ]
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A Federal Court has blocked Penguin Random House's acquisition of one of its main rivals, Simon & Schuster. Continue reading at Book Riot
[ Book Riot | 2022-11-01 16:06:02 UTC ]
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Justice department argued the melding of the publishing house with Simon & Schuster would harm competition and authors’ payA US judge has blocked the $2.2bn planned merger of Penguin Random House, the world’s largest book publisher, with rival Simon & Schuster.Judge Florence Pan of the... Continue reading at The Guardian
[ The Guardian | 2022-11-01 00:30:18 UTC ]
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In a brief two-page order issued late on October 31, Judge Florence Y. Pan blocked PRH's bid to buy S&S, saying the government had succeeded in showing that the proposed merger would harm "competition in the market for the U.S. publishing rights to anticipated top-selling books." Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-10-31 04:00:00 UTC ]
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The Big Five publishers have a history of both publishing and distributing books by people who not only hold abhorrent beliefs, but who wield those beliefs to destroy the rights of people across the world—so it’s no surprise that Sentinel, the conservative Penguin Random House imprint, is... Continue reading at Literrary Hub
[ Literrary Hub | 2022-10-25 14:43:59 UTC ]
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Lulu Cheng Meservey will resign from the board and become executive vice president of corporate affairs and chief communications officer. Continue reading at Silicon Valley Business Journal
[ Silicon Valley Business Journal | 2022-10-06 21:51:31 UTC ]
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The best YA book deals of the day, sponsored by Demon in the Wood by Leigh Bardugo; illustrated by Dani Pendergast `Demon in the Wood by Leigh Bardugo; illustrated by Dani... Continue reading at Book Riot
[ Book Riot | 2022-10-01 10:30:00 UTC ]
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Strand Bookstore is taking the idea of the “status tote” to a whole new level and is now selling a special Bottega Veneta limited edition black tote back for $1,500. I hate it. Yes, we here at Lit Hub are definitely part of the Literary Tote Industrial Complex, which traffics in superficial... Continue reading at Literrary Hub
[ Literrary Hub | 2022-09-13 13:56:21 UTC ]
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The cartoonist’s Ducks is a devastating memoir about life in the oil sands of northern Alberta, Canada. Continue reading at Wired
[ Wired | 2022-09-13 11:00:00 UTC ]
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It was announced yesterday that Josh Hawley, the senator from Missouri who will always be remembered for fleeing the very crowd he’d recently egged on with a fist, has written a book called Manhood.* The book, to be published by Regnery, purports to call on “American men to stand up and embrace... Continue reading at Literrary Hub
[ Literrary Hub | 2022-09-09 14:22:03 UTC ]
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In a highly anticipated post-trial filing PRH attorneys reiterate their claim that the government manufactured a fatally flawed case to block the nearly $2.2 billion merger—and then failed to prove it. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-09-09 04:00:00 UTC ]
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A New Jersey man named Bob Jablonski has finally returned Hitler to the local library. No, this is not The Onion. Bob Jablonski checked out the 1936 biography of Adolph Hitler in 1947, for a school book report, and presumably kept it all these years just to make sure the Allies had truly won... Continue reading at Literrary Hub
[ Literrary Hub | 2022-09-02 14:55:57 UTC ]
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In a none-too-subtle defense of her real-life opinions, Rowling centered "The Ink Black Heart" on a YouTuber who's stabbed to death for their transphobic work. Continue reading at The Huffington Post
[ The Huffington Post | 2022-09-01 17:21:08 UTC ]
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Today's edition of Daily Deals is sponsored by the audiobook edition of Daisy Darker by Alice Feeney.`the audiobook edition of Daisy Darker by Alice... Continue reading at Book Riot
[ Book Riot | 2022-09-01 14:38:14 UTC ]
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James Spooner's 'The High Desert' chronicles a journey into punk as a Black teeen's escape from exurbia. It's a more common story than you'd think Continue reading at Los Angeles Times
[ Los Angeles Times | 2022-08-25 13:00:59 UTC ]
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Medieval mishaps and smarmy suitors are afoot in the upcoming film adaptation of 'Catherine Called Birdy,' based on the 1994 Newbery Honor-winning novel by Karen Cushman. Continue reading at Publishers Weekly
[ Publishers Weekly | 2022-08-25 04:00:00 UTC ]
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Literary world riven by conflict as trade union is accused of inappropriately taking sides in culture warIt is a literary row that threatens to consume the very organisation set up to protect authors’ rights. And, in spite of the involvement of three prominent names in children’s books, it has... Continue reading at The Guardian
[ The Guardian | 2022-08-21 09:00:05 UTC ]
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