Penguin CEO Defends Schuster Deal in Market Shaped by Amazon

Penguin CEO Defends Schuster Deal in Market Shaped by Amazon

Markus Dohle, chief executive officer of the biggest publisher, Penguin Random House, bemoaned his company’s declining market share in book sales as he testified in support of a $2.18 billion merger with Simon & Schuster.

Dohle told the judge at an antitrust trial in federal court in Washington that about half the books sold in the US last year came from publishers outside of the biggest five companies. He testified on Thursday that the shift to e-commerce platforms such as Amazon has “leveled the playing field” between the big and small players.

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