Stephen King Criticizes Simon & Schuster Deal in Antitrust Trial

Legendary creator Stephen King testified on behalf of the federal government Tuesday within the antitrust trial that goals to dam Penguin Random Home from buying fellow publishing big Simon & Schuster from Paramount World.

The prolific creator has lengthy been aligned with Simon & Schuster. However he testified towards the deal in Washington, D.C. federal court docket, supporting the federal government’s competition that the deal will damage authors by limiting the marketplace for new manuscripts.

“I got here as a result of I feel that consolidation is unhealthy for competitors,” King testified earlier than U.S. District Courtroom Choose Florence J. Pan within the bench trial, in keeping with the Related Press. “It turns into harder and harder for writers to seek out cash to stay on.”

King disputed Penguin Random Home’s competition that the acquisition wouldn’t end result within the lack of an unbiased bidder as a result of Simon & Schuster would function autonomously from different publishing labels in Penguin’s teams.

“You would possibly as properly say you’re going to have a husband and spouse bidding towards one another for a similar home,” King mentioned, in keeping with the AP. “It could be type of very gentlemanly and type of, ‘After you’ and ‘After you.”

King testified that the publishing panorama has modified dramatically since his profession started within the mid-Nineteen Seventies with such best-selling books as “Carrie,” “The Shining” and “The Stand,” in keeping with the AP.

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