Judge blocks Penguin Random House-Simon & Schuster merger

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NEW YORK (AP) -- A federal judge has blocked Penguin Random House's proposed purchase of Simon & Schuster, agreeing with the Justice Department that the joining of two of the world's biggest publishers could "lessen competition" for "top-selling books." The ruling reinforced the Biden administration's tougher approach to proposed mergers, a break from decades of precedent under Democratic and Republican presidents. Read More ...

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