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☆ Penguin Seeks Simon & Schuster’s Support to Fight for Imperiled Book Merger
▼ + stars: | 2022-11-03 | by ( Jessica Toonkel | Jeffrey A. Trachtenberg | ) www.wsj.com time to read: 1 min

Penguin Random House said it would request an expedited appeal of a judge’s ruling blocking a merger with Simon & Schuster. Book-publishing giant Penguin Random House wants to appeal a federal judge’s decision blocking its acquisition of Simon & Schuster, but the first step is to ensure its would-be deal partner stays in the legal fight. Penguin parent Bertelsmann SE has had talks with Simon & Schuster owner Paramount Global about offering inducements, including cash, that would lead Paramount to support an appeal and continue pursuing the transaction, according to people familiar with the situation.

☆ Forget about making money. Here’s what it takes to write a book
▼ + stars: | 2022-11-03 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

If you want an idea of how ridiculous the book publishing industry is, look no further than the proposed Penguin Random House-Simon & Schuster merger. Penguin Random House has said it would appeal. A 2018 survey of 5,067 authors conducted by the Authors Guild found that the median income of the authors surveyed had fallen to $6,080 in 2017. Earnings from book income alone was a paltry $3,100, indicating that authors were supplementing their incomes through speaking engagements, book reviewing, or teaching. The Authors Guild report notes the explosive growth of alternative ways for consumers to spend their time (video and streaming).

☆ Bertelsmann: plans to appeal ruling on Penguin Random House book merger
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Nov 1 (Reuters) - German media group Bertelsmann SE & Co (BTGGg.F), owner of Penguin Random House, said on Tuesday it would appeal a ruling by a U.S. court against a planned merger of Penguin and rival Simon & Schuster. "A merger would be good for competition," said Bertelsmann Chief Executive Thomas Rabe in a statement, adding: "We will be filing a motion to appeal with the D.C. Court of Appeals." Writing by Miranda Murray, editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

☆ Penguin Random House Blocked From Acquiring Rival Publisher Simon & Schuster
▼ + stars: | 2022-11-01 | by ( Jeffrey A. Trachtenberg | Jan Wolfe | ) www.wsj.com time to read: 1 min

Penguin Random House sought to acquire Simon & Schuster for roughly $2 billion. A federal judge on Monday blocked Penguin Random House from acquiring rival book publisher Simon & Schuster for about $2.18 billion, agreeing with the Justice Department that the planned merger would unlawfully lessen competition. (More to come)

☆ Penguin Random House-Simon & Schuster merger is blocked by judge
▼ + stars: | 2022-11-01 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

Penguin Random House quickly condemned the ruling, which it called “an unfortunate setback for readers and authors.” In its statement Monday, the publisher said it would immediately seek an expedited appeal. 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. Penguin Random House’s global CEO, Markus Dohle, had promised that imprints of Penguin Random House and Simon & Schuster would still be permitted to bid against each other for books. Pan otherwise persistently challenged Penguin Random House’s assurances that the merger would not reduce competition.

☆ Penguin Random House Stands by Plan to Publish Amy Coney Barrett’s Book
▼ + stars: | 2022-11-01 | by ( Jeffrey A. Trachtenberg | ) www.wsj.com time to read: 1 min

Penguin Random House on Monday said it is committed to publishing a coming book by Supreme Court Justice Amy Coney Barrett despite a dissenting online open letter that has garnered more than 600 signatures, including many from the publishing world. The letter, which asks Penguin Random House to re-evaluate its decision to publish the book, argues that Justice Barrett’s vote in June in favor of overturning Roe v. Wade represented an attack on human rights, including the rights to “privacy, self determination, and bodily autonomy along with the federal right to an abortion in the United States.”

☆ Stephen King makes for unlikely antitrust hero
▼ + stars: | 2022-11-01 | by ( Jennifer Saba | ) www.reuters.com time to read: +4 min

A U.S. judge blocked Penguin Random House’s $2.2 billion acquisition of rival Simon & Schuster on Monday after the Department of Justice argued it would unfairly limit pay for top authors such as Stephen King. Adding Simon & Schuster would give it 70% of the literary nonfiction market, according to NPD Book Scan. The Department of Justice drew a line in its challenge to Penguin, distinguishing highly paid writers from the rest. Follow @jennifersaba on TwitterloadingCONTEXT NEWSA U.S. judge on Oct. 31 ruled that a planned $2.2 billion merger of Penguin Random House and rival Simon & Schuster cannot go forward. German media group Bertelsmann, the owner of Penguin, agreed to buy Simon & Schuster from Paramount Global in 2020.

☆ Judge blocks Penguin Random House takeover of Simon & Schuster
▼ + stars: | 2022-11-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJudge blocks Penguin Random House takeover of Simon & SchusterA federal judge has blocked Penguin Random House's planned takeover of Simon & Schuster, agreeing with the Justice Department that the deal would hurt competition among book sellers.

☆ What Cramer is watching Tuesday — big J&J deal, Lilly guidance light, Biden scolds Big Oil
▼ + stars: | 2022-11-01 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Club holding J ohnson & Johnson (JNJ) buys Abiomed (ABMD), premier heart pumping company, in a deal valued at $16.6 billion. J & J is paying a hefty premium: $380-per-share upfront, plus extra $35-per-share if certain milestones are met. J & J juiced growth ahead of its separation into two companies: one, pharma and the other, consumer brands. This will raise the growth rate of the MedTech portion of new J & J company. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) very good: $516 million versus $470 million expected.

☆ Fact Check-Supposed leaked extract from upcoming Prince Harry memoire created as satire
▼ + stars: | 2022-10-31 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

Although some considered the post to be satirical, others mistook the text as being an authentic extract from Prince Harry’s upcoming book. "The story about Prince Harry bowling is a play on words based on the title of the memoir, Spare, since a ‘spare’ is also a type of score in 10-pin bowling. The bowling passage is also not viewable via the press release about the memoir published on Oct 27 by Penguin Random House (here). A spokesperson for Penguin Random House did not reply to a request for comment at time of writing. No such passage is viewable in a press release published on Oct. 27 by Penguin Random House about the upcoming memoir.

☆ Judge blocks Penguin Random House’s purchase of Simon & Schuster
▼ + stars: | 2022-10-31 | by ( Cnn Business Staff | ) edition.cnn.com time to read: +1 min

New York CNN Business —A federal judge blocked Penguin Random House from buying Simon & Schuster, arguing that the combination of the two book business giants would illegally reduce competition. The ruling, most of which remained confidential, comes nearly a year after the Justice Department sued to block the deal. US District Court Judge Florence Pan agreed with the Biden administration that the deal should not be allowed to go forward. Penguin Random House and Simon & Schuster are two members of the “Big Five,” the industry’s term for the five biggest publishers in the United States. Simon & Schuster’s parent, Paramount, and Penguin Random House, a subsidiary of German media giant Bertelsmann, announced the $2.175 billion deal in November 2020.

WASHINGTON, Oct 31 (Reuters) - A planned $2.2 billion merger of Penguin Random House, the world's largest book publisher, and rival Simon & Schuster cannot go forward, a U.S. judge ruled on Monday. Unlike most merger fights, which are focused on what consumers pay, this one focused on authors' earnings. Penguin writers include cookbook author Ina Garten and novelists Zadie Smith and Danielle Steele, while Simon & Schuster publishes Stephen King, Jennifer Weiner and Hillary Rodham Clinton, among others. Penguin is owned by German media group Bertelsmann SE & Co (BTGGg.F) while Paramount Global (PARA.O) owns Simon & Schuster. The top five publishers are Penguin Random House, HarperCollins, Macmillan, Simon & Schuster and Hachette, with Walt Disney Co (DIS.N) and Amazon.com Inc (AMZN.O) also in the market.

☆ Prince Harry’s memoir, titled ‘Spare,’ to come out in January
▼ + stars: | 2022-10-27 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

NEW YORK — Prince Harry’s memoir, an object of obsessive anticipation worldwide since first announced last year, is coming out Jan. 10. “For Harry, this is his story at last.”The memoir’s title is an apparent reference to Prince Harry’s being a royal “spare,” not the first in line to succession. William, Prince of Wales, is next in line. The 416-page book will come out in 16 languages, from Dutch to Portuguese, and also will be released in an audio edition read by Prince Harry. “Penguin Random House is honored to be publishing Prince Harry’s candid and emotionally powerful story for readers everywhere,” the global CEO of Penguin Random House, Markus Dohle, said in a statement.

☆ Prince Harry's memoir to be published in January, titled 'Spare'
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 27 (Reuters) - Britain's Prince Harry's memoir will be published on Jan. 10 with the title "Spare" and will tell with "raw unflinching honesty" his journey from "trauma to healing", publisher Penguin Random House said on Thursday. The title refers to Harry's position as the younger brother of Prince William, who has been heir to the British throne since their father Charles become king last month following the death of Queen Elizabeth. A photo of Harry looking directly into the camera features on the cover, along with the words "Prince Harry" and "Spare". Harry will support British charities with donations from his proceeds, the publisher said. ($1 = 0.8633 pounds)Reporting by Muvija M and Paul Sandle Editing by Frances KerryOur Standards: The Thomson Reuters Trust Principles.

☆ NZ's Ardern visits Antarctica to highlight climate change challenges
▼ + stars: | 2022-10-27 | by ( Lucy Craymer | ) www.reuters.com time to read: +3 min

WELLINGTON, Oct 27 (Reuters) - Prime Minister Jacinda Ardern visited scientists at New Zealand's Scott Base in Antarctica on Thursday, as part of a trip aimed at highlighting climate change challenges, her country's commitment to the continent and the need for regional cooperation. Last year, New Zealand announced it was allocating NZ$344 million($200.72 million) for a rebuild of the base, to support New Zealand's presence there for the next 50 years. "Cooperation in Antarctica and in the Antarctic Treaty System is more important than ever as we tackle the crises of climate change and biodiversity loss," Ardern added. In recent years, both Russia and China have invested in their capability and presence in Antarctica, and Western governments have responded in similar fashion. The impact of climate change on Antarctica has made it a critical location for research.

☆ Emperor penguins are now a threatened species due to climate change, U.S. officials say
▼ + stars: | 2022-10-26 | by ( ) www.nbcnews.com time to read: +2 min

Endangered Species Act. Fish and Wildlife Service said emperor penguins should be protected under the law since the birds build colonies and raise their young on the Antarctic ice threatened by climate change. The agency’s review followed a 2011 petition by the environmental group Center for Biological Diversity to list the bird under the Endangered Species Act. Tuesday’s designation was described as a warning that emperor penguins need “urgent climate action” in order to survive by Shaye Wolf, the climate science director at the Center for Biological Diversity. The 1973 Endangered Species Act is credited with bringing several animals back from the brink of extinction, including grizzly bears, bald eagles, gray whales and others.

☆ Emperor Penguins to Be Listed as Threatened Species in U.S.
▼ + stars: | 2022-10-26 | by ( Talal Ansari | ) www.wsj.com time to read: 1 min

By 2050, the emperor penguin population is estimated to decrease by 26% to 47%, officials said. The emperor penguin will soon be considered a threatened species under the Endangered Species Act, the U.S. Fish and Wildlife Service said. The federal agency said Tuesday it had finalized protections for the species, following a proposal last year. It cited the effects of a warming climate on the sea-ice habitat in Antarctica, where emperor penguins spend the majority of their lives, as the “primary threat to the penguin.”

☆ Emperor penguins now a threatened species due to climate change, U.S. says
▼ + stars: | 2022-10-25 | by ( Clark Mindock | ) www.reuters.com time to read: +2 min

Endangered Species Act. Fish and Wildlife Service said emperor penguins should be protected under the law since the birds build colonies and raise their young on the Antarctic ice threatened by climate change. The agency's review followed a 2011 petition by the environmental group Center for Biological Diversity to list the bird under the Endangered Species Act. Tuesday's designation was described as a warning that emperor penguins need “urgent climate action” in order to survive by Shaye Wolf, the climate science director at the Center for Biological Diversity. The 1973 Endangered Species Act is credited with bringing several animals back from the brink of extinction, including grizzly bears, bald eagles, gray whales and others.

☆ Virago Founder Carmen Callil Promoted Neglected Authors
▼ + stars: | 2022-10-23 | by ( James R. Hagerty | ) www.wsj.com time to read: 1 min

In the late 1970s, paperback books with dark green spines and tastefully restrained covers began appearing in bookshops. The Virago Modern Classics series quickly established a reputation for presenting female authors whose work had been overlooked or forgotten. Like Penguin, Virago became a brand denoting quality. The books were published by an upstart, Virago Press, whose headquarters were in a scruffy fourth-floor walk-up space above a pinball arcade in London’s Soho district. The founder was Carmen Callil , who worked long hours with a few early collaborators.

☆ Jennifer Aniston confronted Matthew Perry about his substance abuse during Friends years
▼ + stars: | 2022-10-23 | by ( Dan Heching | ) edition.cnn.com time to read: +3 min

CNN —Matthew Perry is continuing to share candid moments from his long journey to sobriety and the struggles he endured during his run on NBC’s “Friends” while yoyo-ing between addictions to Vicodin and alcohol. In an excerpt from his new book “Friends, Lovers and the Big Terrible Thing,” Perry recounts how a visit from costar Jennifer Aniston to his trailer made him realize that his secret behavior when it came to alcohol wasn’t so secret. “‘I know you’re drinking,’ she said,” Perry, now 53, writes in the memoir, in an excerpt published by the Times of London. “You can track the trajectory of my addiction if you gauge my weight from season to season – when I’m carrying weight, it’s alcohol; when I’m skinny, it’s pills. And the main thing was, I was pretty certain that it would help people.”“Friends, Lovers and the Big Terrible Thing,” by Matthew Perry, will be published by Headline on November 1.

☆ U.S. set to meet Dutch in final re-match at 2023 World Cup
▼ + stars: | 2022-10-22 | by ( ) www.reuters.com time to read: +3 min

Soccer Football - 2023 Women's World Cup Draw - Aotea Centre, Auckland, New Zealand - October 22, 2022 2023 Women's World Cup official mascot Penguin Tazuni and performers after the draw ceremony REUTERS/Shane WenzlickAUCKLAND, Oct 22 (Reuters) - Four-times winners the United States will face the Netherlands in a rematch of the 2019 World Cup final after being drawn with the European side, debutants Vietnam and a playoff winner at Saturday's draw in Auckland for next year's showpiece. Register now for FREE unlimited access to Reuters.com Register"We've got a good but somewhat tough draw," said U.S. coach Vlatko Andonovski. "I think it's going to be exciting (to play the Dutch) because it's a rematch of the last World Cup final, it was also the quarter-final match of the Olympics so two quality teams playing against each other. New Zealand will kickoff the first World Cup to be held in the southern hemisphere against former champions Norway in Auckland on July 20 and will also face the Philippines and Switzerland in Group A. "Canada are a world class team, top-ranked in our group and favourites to win it.

☆ 'Friends' Star Matthew Perry Reveals Harrowing Addiction Journey
▼ + stars: | 2022-10-20 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +4 min

Perry has written a memoir, “Friends, Lovers and the Big Terrible Thing,” which will be published Nov. 1. Perry shares that he has gone to rehab 15 times, but he doesn’t say how long he’s been sober. "It's important, but if you lose your sobriety, it doesn't mean you lose all that time and education," he says. Perry talks about how his alcohol addiction was just beginning when he was 24 and cast on the TV show “Friends.” Perry, now 53, played Chandler Bing on the show. It doesn't matter if you're successful or not successful, the disease doesn't care,” Perry said.

Persons: Cara Murez HealthDay, Matthew Perry, Perry, “, —, ” Perry, Chandler Bing, he’s, I've, that's Organizations: Penguins, PEOPLE, Mental Health Services Administration

☆ Matthew Perry is talking addiction in a new memior
▼ + stars: | 2022-10-19 | by ( Marianne Garvey | ) edition.cnn.com time to read: +1 min

CNN —Matthew Perry is “safely sober” and ready to tell his story. In it, he tells the story of his life and addictions, saying he’s finally in a place to talk about it. “I wanted to share when I was safe from going into the dark side of everything again,” Perry tells People of the book. “I had to wait until I was pretty safely sober — and away from the active disease of alcoholism and addiction — to write it all down. Wanting to tell the story, even though it’s a little scary to tell all your secrets in a book, I didn’t leave anything out.

☆ Michelle Obama Award will honor student memoir writers
▼ + stars: | 2022-10-12 | by ( Associated Press | ) www.nbcnews.com time to read: +1 min

A literary honor will now carry the name of a uniquely successful author: the Michelle Obama Award for Memoir. On Wednesday, Penguin Random House announced the retitling of the prize in its decades-old Creative Writing Awards program, which also includes categories named for Amanda Gorman (poetry) and Maya Angelou (spoken word). Each year, the Obama prize will provide a $10,000 college scholarship to a high school senior in public school, based on an autobiographical English-language composition. “I know firsthand how nerve-wracking it can be to share the most intimate stories from your life with the world,” Obama said in a statement released by Penguin Random House. “But after publishing my memoir ‘Becoming,’ I’ve learned that writing your own story can be a powerful tool.

☆ Why Celeste Ng's new book places an Asian American mom in the eye of a social justice movement
▼ + stars: | 2022-10-05 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +6 min

For the author, it was critical to place Miu, an Asian American mother and fugitive poet, at the forefront of a protest movement in her book. It was, in a way, a nod to the awareness that Asian American women more generally have long had around violence, preceding the rise in anti-Asian hate during the pandemic. Research previously showed that 21% to 55% of Asian women in the U.S. report having experienced intimate physical and/or sexual violence during their lifetimes, according to the Asian Pacific Institute on Gender-Based Violence. “As an Asian American woman, I feel like I’ve been aware of the possibility of violence for most of my life. “In the case of PACT, it’s the idea that there’s a right way to be American,” Ng said.

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