For the past fifty years, publishing in America has moved inexorably in one direction: conglomeration. In 2023 the big five publishers – Penguin Random House (PRH), Simon & Schuster (S&S), HarperCollins, Hachette, and Macmillan – nearly became four when Bertelsmann, the company that owns PRH, tried to buy S&S. A judge ruled in favour of the Department of Justice to stop the merger, even though some publishing professionals appeared on the stand claiming the existence of fewer publishers would have no adverse effects on the industry for readers or authors. The bench was unconvinced.
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