By CBSNewYork Team

NEW YORK (CBSNewYork) — The Justice Department is suing to block a proposed acquisition of Simon & Schuster by Penguin Random House.

The DOJ argues it would give Penguin Random House “outsized influence” over what is published and how much authors are paid.

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Simon & Schuster’s president and CEO says Penguin Random House is determined to fight for the deal, and Simon & Schuster will do all it can to help.

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In a statement, Jonathan Karp said, “Simon & Schuster and Penguin Random House strongly disagree with the DOJ that this transaction will harm competition and believe firmly that there is no basis for these claims.”

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ViacomCBS is the parent company of Simon & Schuster and of CBS2.

CBSNewYork Team