WASHINGTON, DC — Best-selling author
Stephen King is horrified by an upcoming merger of major book publishers.
اضافة اعلان
The 75-year-old author of “Carrie”, “The Shining”,
and scores of other books, appeared in a Washington court on Tuesday to testify
against the acquisition of his long-time publisher, Simon & Schuster, by
Penguin Random House.
The “King of Horror” is the Justice Department’s
star witness in its antitrust case opposing the merger.
He introduced himself to the court by saying “My
name is Stephen King. I’m a freelance writer,” prompting laughter.
“I came because I think that consolidation is bad
for competition,” King said. “That’s my understanding of the book business. I
have been around it for 50 years.”
Penguin Random House, which is owned by the German
company
Bertelsmann, is seeking to acquire Simon & Schuster in a deal
valued at $2.2 billion.
The government is opposing the acquisition on the
grounds it would stifle competition and result in authors being paid less.
“The merger would give Penguin Random House outsized
influence over who and what is published, and how much authors are paid for
their work,” the Justice Department said in its complaint filed in
US District
Court.
During nearly an hour on the stand, the tall, lanky
King, who was dressed in a grey suit with a grey tie, traced his career as an
author.
He said his first check as a writer was for $2,500
for “Carrie,” which became a runaway best-seller after it was made into a hit
movie starring Sissy Spacek.
After enjoying major success with “The Shining,”
King said a publisher laughed at him when he demanded $2 million for his next
three books. He switched publishers.
“The more companies there are, the better it is,” he
said.
“When I started there were literally hundreds of
imprints,” King said. “One by one they have either been subsumed by other
publishers or they went out of business.”
“It becomes tougher and tougher for writers to find
enough money to live on.”
The trial is expected to last two more weeks.
Read more Trending
Jordan News
.jpg)
.jpg)
