Major Biden DOJ Lawsuit! | The Changing Face of Antitrust Enforcement (VL570)

The Biden Justice Department has finally tipped its hand on antitrust enforcement questions as it brings one of its first major lawsuits against book publishers Penguin Random House and Simon & Schuster.

Why was the suit brought? What is a horizontal merger? Are authors being elevated above book readers? And why should all the eyes of Big Tech be watching closely?

Let's dive in.

Penguins don't mate for life when the Department of Justice gets involved...in Virtual Legality.

#Penguin #RandomHouse #Lawsuit

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CHAPTERS
00:00 Introduction
01:41 The Penguin Random House Acquisition
03:49 The DOJ Press Release and Consumer Welfare
08:45 The Lawsuit (Overview)
19:39 The Parties and Background
25:40 Setting the Market
35:10 The Horizontal Merger Guidelines
44:15 Anti-Competitive Effects
55:03 Conclusion

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Discussed in this episode:

"An Antitrust Epic"
YouTube Playlist - Hoeg Law
https://www.youtube.com/playlist?list=PL1zDCgJzZUy-lb7ReoUqL5_dTcM8ngmfV

"ViacomCBS sells Simon & Schuster to Penguin Random House for $2 billion"
CNBC Whttps://www.cnbc.com/2020/11/25/viacomcbs-sells-simon-schuster-to-penguin-random-house-for-2-billion.htmlebsite - November 25, 2020

"Justice Department files antitrust suit to block $2 billion merger of Penguin Random House, Simon & Schuster"
CNBC Website - November 2, 2021
https://www.cnbc.com/2021/11/02/doj-sues-to-block-merger-of-penguin-random-house-simon-schuster.html

"Justice Department Sues to Block Penguin Random House’s Acquisition of Rival Publisher Simon & Schuster"
Department of Justice Press Release - November 2, 2021
https://www.justice.gov/opa/pr/justice-department-sues-block-penguin-random-house-s-acquisition-rival-publisher-simon

"Justice Dept. Sues Penguin Random House Over Simon & Schuster Deal"
New York Times - November 2, 2021
https://www.nytimes.com/2021/11/02/books/penguin-random-house-simon-schuster-merger-lawsuit.html

DOJ Complaint (Penguin Random House Merger)
Filed November 2, 2021
https://www.justice.gov/opa/press-release/file/1445916/download

"Acquisition by one corporation of stock of another"
15 USC 18 (Clayton Act)
https://www.law.cornell.edu/uscode/text/15/18

"Horizontal Merger Guidelines"
August 19, 2010
https://www.ftc.gov/sites/default/files/attachments/mergers/100819hmg.pdf

"Jonathan Kanter Undergoes Senate Confirmation Hearing to Lead Antitrust Division at the Justice Department"
JDSupra Website - October 14, 2021
https://www.jdsupra.com/legalnews/jonathan-kanter-undergoes-senate-5469722/

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"Virtual Legality" is a continuing series discussing the law, video games, software, and everything digital, hosted by Richard Hoeg, of the Hoeg Law Business Law Firm (Hoeg Law).

CHECK OUT THE REST OF VIRTUAL LEGALITY HERE:
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DISCUSSION IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS LEGAL ADVICE. INDIVIDUALS INTERESTED IN THE LEGAL TOPICS DISCUSSED IN THIS VIDEO SHOULD CONSULT WITH THEIR OWN COUNSEL.

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Twitter: @hoeglaw
Web: hoeglaw.com

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