Best-selling horror author Stephen King testified against Penguin Random House’s proposed $2.18 billion acquisition of Simon & Schuster, saying it would weaken competition in the publishing industry.
The “Carrie” and “It” author took the stand Tuesday as a government witness in the Justice Department’s antitrust suit seeking to block the deal. He said consolidation in the publishing industry over the course of his career has led to lower pay for authors.
“It becomes tougher and tougher for writers to find enough money to live on,” King testified in federal court in Washington.
