Stephen King testifies for government in books merger trial

[Eugene]

Source: Associated Press

Stephen King testifies for government in books merger trial

By HILLEL ITALIE and MARCY GORDON
August 2, 2022

WASHINGTON (AP) — Bestselling author Stephen King gingerly stepped up to the witness stand Tuesday in a federal antitrust trial. Tracing his own history, he laid out a portrait of a publishing industry that has become increasingly concentrated over the years while richly rewarding his creative endeavors.

“My name is Stephen King. I’m a freelance writer,” King said as he began his sworn testimony as a witness for the U.S. Justice Department. The government is bidding to convince a federal judge that the proposed merger of Penguin Random House and rival Simon & Schuster, two of the world’s biggest publishers, would thwart competition and damage the careers of some of the most popular authors.

King has been published for years by Simon & Schuster. Some of his former publishers were acquired by larger ones. The $2.2 billion merger of Penguin Random House, the biggest U.S. publisher, and fourth-largest Simon & Schuster would reduce the “Big Five” U.S. publishers — which also include HarperCollins, Macmillan and Hachette — to four.

Over two days, attorneys for the two sides have presented contrasting views of the book industry to U.S. District Judge Florence Pan.

King’s appearance in U.S. District Court in Washington — highly unusual for an antitrust trial — ...

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Read more: https://apnews.com/article/stephen-king-government-and-politics-b3ab31d8d8369e7feed7ce454153a03c


Author Stephen King arrives at federal court before testifying for the Department of Justice as it bids to block the proposed merger of two of the world's biggest publishers, Penguin Random House and Simon & Schuster, Tuesday, Aug. 2, 2022, in Washington. (AP Photo/Patrick Semansky)

[elleng]

1. 'he laid out a portrait of a publishing industry that has become increasingly concentrated

over the years while richly rewarding his creative endeavors. . .

he began his sworn testimony as a witness for the U.S. Justice Department. The government is bidding to convince a federal judge that the proposed merger of Penguin Random House and rival Simon & Schuster, two of the world’s biggest publishers, would thwart competition and damage the careers of some of the most popular authors.'

Good he's appearing for this purpose; we badly need anti-trust ENFORCEMENT.