The Wall Street Journal reports that the U.K.’s competition regulator is investigating Penguin Random
House’s proposed acquisition of rival publisher Simon & Schuster, a deal that would create a behemoth in the book industry.
The Competition and Markets Authority is examining the proposed merger on the grounds it may lessen competition, and said it would decide by May 19 whether to proceed to a second phase, signaling more intense concerns over competition.
Last November, Penguin Random House’s parent, German media giant Bertelsmann SE, agreed to acquire Simon & Schuster from ViacomCBS Inc. for almost $2.18 billion.
Read the full story in Wall Street Journal.