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US Judge lays out case for blocking publishing giants merger

Source image: https://abcnews.go.com/Entertainment/wireStory/us-judge-lays-case-blocking-publishing-giants-merger-92918068

WASHINGTON — A federal judge has laid out a data-laden case for why she blocked Penguin Random House’s proposed purchase of Simon & Schuster, handing a victory to the Biden Justice Department in its contention that combining two of the world’s biggest publishers would hurt competition for top-selling books.

In her ruling filed Monday, U.S. District Court Judge Florence Pan also waved off as not relevant the publishers’ assertion that Penguin Random House would be the best “home” for Simon & Schuster and that other buyers — notably private equity firms — could destroy it. That argument isn’t relevant to the case and her decision, Pan wrote, which turns only on the issue of how the merger would affect competition.

Pan announced her ruling in a brief statement last week, keeping the bulk of it under seal because of confidentiality issues. The full ruling issued this week delves into the data of publishing-market dynamics, replete with charts and graphs. Some company-related material is redacted.

“The government has presented a compelling case that predicts substantial harm to competition as a result of the proposed merger,” Pan wrote. “The post-merger concentration of the relevant market would be concerningly high: The merged entity would have a 49% market share, more than twice that of its closest competitor.”

The merger “is likely to substantially lessen competition in the market for the publishing rights to anticipated top-selling books,” Pan wrote.

Penguin Random House, owned by German conglomerate Bertelsmann, is the biggest book publisher in the U.S., as Pan laid out in her ruling. She noted that Simon & Schuster, whose parent is New York-based media giant Paramount Global, is the third-largest U.S. publisher.

Penguin Random House last week called the ruling “an unfortunate setback for readers and authors” and said it will request an expedited appeal in federal court.

Pan’s ruling was a victory for the Biden administration’s tougher approach to proposed mergers, a break from decades of precedent under Democratic and Republican leadership.

The Justice Department declined further comment Tuesday on Pan’s decision. Simon & Schuster and Paramount declined to comment.

Pan’s ruling was not surprising. Through much of the three-week non-jury federal trial in August, she had indicated agreement with the Justice Department’s contention that Penguin Random House’s plan to buy Simon & Schuster for $2.2 billion might damage a vital cultural industry.

But it was still a dramatic departure from recent history in the book world and beyond. The publishing industry has been consolidating for years with little interference from the government, even when Random House and Penguin merged in 2013 and formed what was then the biggest publishing house in memory. The joining of Penguin Random House and Simon & Schuster would have created a company far exceeding any rival.

The “Big Five” companies —— the others are Hachette, Macmillan and HarperCollins — publish 91% of anticipated top-selling books, Pan noted in her ruling.

In her 80-page opinion, Pan conjured literary history, opening with a nod to John Steinbeck — the “Grapes of Wrath” author whose publisher was Viking Press, now owned by Penguin Random House.

“John Steinbeck famously said, ‘I guess there are never enough books,’” Pan wrote. “He apparently meant that in the figurative sense, as a comment on the power of books to educate, to enrich and to explore. But today, his statement also rings true in the economic sense: The retail market for books in the United States was over $11.5 billion in 2019 and has only continued to expand.

“People want to read. And book publishers have the enormous power and responsibility to decide which books — and therefore which ideas and stories — will be made broadly available to the public,” she added.

Source: https://abcnews.go.com/Entertainment/wireStory/us-judge-lays-case-blocking-publishing-giants-merger-92918068

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Book Review: Explosive debut novel ‘Fireworks Every Night’ is a bittersweet celebration of survival

“Fireworks Every Night” by Beth Raymer (Random House)

C.C.’s isn’t your typical rags-to-riches story. She remembers growing up in a single-wide with her older sister, stay-at-home mom and car-salesman dad. But she also remembers when they moved to Florida after everything in the car lot burned down — including their home — launching them into a comfortable middle-class life and a fresh start in a state her dad proudly brags has fireworks every night.

“Fireworks Every Night” is Beth Raymer’s debut novel, but not her first book. Following her 2010 memoir “Lay the Favorite,” she borrows from her life to create a deeply personal story of a dysfunctional family.

Having grown up in West Palm Beach, Raymer puts her local knowledge to use as her protagonist — a resident of Loxahatchee, Florida — rattles off the schools she plays basketball against, and how worn down or rich they are. She’s familiar with the Baker Act and who’s been institutionalized through its use. She knows all the neighborhoods and has eaten at Benny’s on the Beach.

If the gorgeous cover designed by Elizabeth A. D. Eno isn’t enough to draw you in, let the heartbreakingly determined main character and the promise of an earnest look at the skeletons in her closet convince you.

In adulthood, C.C. is engaged to a well-educated and absurdly wealthy man — a far cry from the childhood in which she learns what it means to fight for survival. Hopping between the two timelines in stark juxtaposition, the full picture of C.C.’s life emerges.

As kid-C.C.’s home life comes completely unraveled, the story morphs from tragicomedy to horror, revealing how her family fell apart and left her sister struggling with addiction, her mother chronically absent and her father homeless. All the while, adult-C.C. is juggling a host of modern stresses: the viability of having children, climate change, living in a world that makes it far too easy to compare yourself with the 8 billion others who inhabit it, and reconciling your self-worth with the balance in your bank account.

Raymer launches addiction, homelessness, neglect and poverty shamelessly into the lexicon, treating C.C. and her family with nothing less than respect.

A nature motif runs throughout the story, blurring the line between animal and human and calling into question what is “natural” in a world so unnaturally shaped by people. Animals play a quiet but pivotal role throughout “Fireworks Every Night,” shaping Raymer’s engrossing novel into a bittersweet celebration of the scrappy Americans who are finding a way to survive even as the elite push humans and animals alike out of their habitats.

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Book Review: ‘White House by the Sea’ tells storied Kennedy tale through family’s compound

“White House By the Sea: A Century of the Kennedys at Hyannis Port” by Kate Storey (Scribner)

The history of the Kennedy family is so well-chronicled — from the modern Camelot legend surrounding John F. Kennedy’s presidency to the series of tragedies that marked the family throughout the 20tb century — that it’s hard to imagine new ways to tell their story.

But Kate Storey does just that in “White House By the Sea: A Century of the Kennedys at Hyannis Port” — revisiting the family’s history through their time at the famed Kennedy compound on Cape Cod.

Storey, the senior features editor at Rolling Stone magazine, weaves a fascinating narrative about the Kennedy family using Hyannis Port as the backdrop. The book traces the family’s ties to the compound back to the 1920s, when Joseph Kennedy bought Malcolm Cottage, what became known as the Big House.

Many of the stories feel so familiar, from Joseph Kennedy Jr.’s death during World War II to John F. Kennedy Jr.’s fatal plane crash in 1999. The compound was also the setting for much happier occasions, including John F. Kennedy’s presidential acceptance speech and the wedding of Arnold Schwarzenegger and Maria Shriver.

Storey gives them a fresh look with new details and well-sourced reporting that opens up a traditionally private community — “what’s left of Camelot,” she writes.

Storey’s research gives the book a more intimate feel than many other histories of the Kennedy family, introducing figures that aren’t as well-known but played a key role in the family and its compound. Fittingly, it’s written in an accessible way that makes the book a welcome beach read.

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Fox News unveils primetime lineup with Jesse Watters in Tucker Carlson’s former time slot

Jesse Watters will fill the Fox News Channel time slot left vacant by the firing of Tucker Carlson, part of a dramatic revamp of the network’s evening lineup announced on Monday.

Greg Gutfeld’s late-night show that combines news and comedy will move up an hour to start at 10 p.m. Eastern, displacing Laura Ingraham. She’ll shift to 7 p.m., the hour that Watters has occupied. Sean Hannity will stay in his 9 p.m. time slot, Fox said. The new lineup debuts on July 17.

The announcement comes roughly two months after Fox News fired Carlson shortly after settling a defamation lawsuit with the voting machine maker Dominion Voting Systems on the eve of trial. The case, which centered on the network’s airing of false claims following the 2020 presidential election, exposed a trove of private messages sent between Fox hosts, including Hannity and Carlson, in which they criticized peers at the network.

Carlson has since begun doing occasional monologues for Twitter, although Fox is attempting to get him to stop the broadcasts.

Fox has seen its ratings tumble since Carlson exited. Carlson averaged 3.25 million viewers at 8 p.m. in the first three months of the year, and the string of guest hosts who replaced him the past two months usually reached under 2 million, making the network’s command more tenuous.

The lineup change signals that Fox is doubling down on its opinionated evening programming strategy, with three sharp-tongued men filling the prime-time hours. It’s something of a triumphant return for Watters, who got his start at the 8 p.m. hour, doing man-in-the-street interviews and other features for Bill O’Reilly before O’Reilly’s firing in 2017.

It also means double duty for Gutfeld and Watters, who are both panelists on “The Five” and will continue there. The late-afternoon political talk show has become Fox’s most popular program.

Keeping that show’s chemistry intact appeared to be a priority for Fox. Gutfeld said in a Wall Street Journal interview last week that he would no longer appear on “The Five” or do his late-night show if he were to get Carlson’s old time slot.

Trace Gallagher, who has worked at Fox since the network began in 1996, will host a news show at 11 p.m., filling the hour that Gutfeld is leaving vacant.

“The unique perspectives of Laura Ingraham, Jesse Watters, Sean Hannity, and Greg Gutfeld will ensure our viewers have access to unrivaled coverage from our best-in-class team for years to come,” Fox News CEO Suzanne Scott said in a statement.

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