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NATION / WORLD: PUBLISHING

Groups Oppose Bertelsmann Deal

April 24, 1998|Reuters

Two influential publishing groups said they will seek to block Bertelsmann's planned purchase of New York-based Random House Inc., saying the German company would control 36% of the U.S. adult book market. The Authors Guild, which represents 7,200 published authors, and the Assn. of Authors' Representatives, an organization of literary and dramatic agents, said they were filing a formal objection with the Federal Trade Commission. Bertelsmann, Europe's largest media company, said the market share estimate was way off. It said a combined Bertelsmann-Random House would control 10.9% of the market. Bertelsmann, which owns Bantam Doubleday Dell, announced March 24 that it would buy closely held Random House, the largest book publisher in the United States.

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