Frozen waffles from Whole Foods join Canadian recall list over listeria concerns
Whole Foods Market is joining the growing list of brands whose frozen waffles have been recalled in Canada this week because of possible listeria contamination.
The head of publishing titan Penguin Random House on Thursday defended his company's deal to acquire rival Simon & Schuster against the government's claim it would thwart competition. But he acknowledged that the merger would buttress his company's position as the biggest U.S. publisher by expanding its market share.
Under questioning at a federal antitrust trial, CEO Markus Dohle also admitted that while he has promised to allow the two merged companies to continue to bid against each other for deals with authors, Penguin Random House's German parent firm Bertelsmann has no legal obligation to honor that commitment.
Commenting on what has been a core government argument, Dohle allowed that smaller advance payments to authors can lead to fewer books being published. Advances, which reach into the millions for such top-selling authors as Stephen King and James Patterson, are guaranteed payments to writers that can affect a book's profitability. Books that sell well are more likely to have received bigger advances, Dohle acknowledged.
Speaking of Simon & Schuster's position in bidding after a merger, Dohle said, "We want to keep them as external and independent as possible." Dohle has assured agents that he would permit competitive bidding between Simon & Schuster and Penguin Random House imprints even if no other publisher was in contention, an expansion upon the current PRH policy of allowing bidding between imprints as long as outside competitors were still in the running. Dohle not only acknowledged his promise was not legally binding, but should he ever leave Bertelsmann his successor would not be obligated to continue competitive bidding between the imprints.
The U.S. Justice Department has sued to block the proposed US$2.2 billion merger of Penguin Random House with Simon & Schuster, the fourth-largest U.S. publisher, which would reduce the so-called "Big Five" U.S. publishers to four. The other three are HarperCollins Publishers, Hachette Book Group and Macmillan.
The government contends that allowing Bertelsmann to buy Simon & Schuster from U.S. media and entertainment company Paramount Global would thwart competition and give Penguin Random House outsize influence over what books are published in the U.S. and how much authors are paid, giving consumers fewer books to choose from. The new company, if approved, would be by far the biggest book publishing entity in U.S. history.
The publishers counter that the merger would strengthen competition among publishers to find and sell the hottest books by enabling the combined company to offer bigger advances and marketing support to authors. It would benefit readers, booksellers and authors, they say.
The publishers' promise of continued competitive bidding by the two companies after a merger was greeted with skepticism by an unusual witness at the trial Tuesday -- King, who testified for the government even though he is published by Simon & Schuster.
"You might as well say you're going to have a husband and wife bidding against each other for the same house," he quipped. "It would be sort of very gentlemanly and sort of, `After you' and `After you,`" he said, gesturing with a polite sweep of the arm.
Prompted by questions from defense attorney Daniel Petrocelli representing Bertelsmann and Penguin Random House, Dohle became animated and gave an impassioned tribute to the creativity of the publishing industry, which he portrayed as a fiercely competitive marketplace.
The biggest threat to the publishing industry comes not from consolidation but from the explosion in recent years of subscription-based or cheap content, such as e-books, Dohle said, calling it "all-access." He cited especially Amazon, which has some 50 million book titles available, and Disney.
"I think it's the biggest threat to the industry, and especially author income," he said. "It will have a tectonic influence on the revenue pool of the industry."
The effect on authors' compensation can reduce the diversity of stories that are published, and physical booksellers also are imperiled.
Dohle likened Penguin Random House to Silicon Valley "angel" investors: "We invest every year in thousands of ideas and dreams, and only a few of them make it to the top. ... Each book is unique, and there's a lot of risk."
Reflecting the waves of consolidation in the publishing industry, Penguin Random House itself is the product of a merger in 2013 between the nearly 100-year-old Random House and Penguin. That combination was approved by the Justice Department during the adminstration of President Barack Obama, under whom President Joe Biden served as vice president. The Penguin Random House trial is widely seen as part of a growing DOJ trend during the Biden administration of taking a tougher stand on mergers.
Whole Foods Market is joining the growing list of brands whose frozen waffles have been recalled in Canada this week because of possible listeria contamination.
Angela Salvatore had been away from her father's hospital bedside for just over an hour when she says she got a frantic call from a nurse, pleading with her to calm him down.
Many of Donald Trump鈥檚 supporters left a Michigan rally before he arrived after the former U.S. president kept them waiting for three hours to tape a popular podcast interview.
Canadian Ryan James Wedding finished in 24th place in the parallel giant slalom at the 2002 Winter Games in Salt Lake City, but the snowboarder wouldn鈥檛 go on to improve his results in Torino four years later.
The mystery of a 100-year-old letter sent from Manitoba to Ireland is slowly unraveling thanks to the work of one amateur sleuth.
As months, become weeks, become days left before this U.S. election cycle comes to an end, here's a look at what each outcome might mean for Canadian politics.
In early 2018, Amanda and Sunil started chatting, messaging back and forth on Instagram, introducing themselves and talking a little about their lives. Fast forward to August 2018, the couple got engaged on vacation in Thailand and a year later, after Amanda moved to India, got married.
Based on initial appearances, there are signs indicating the automobile industry is in healthy shape 鈥 for now.
Former New Brunswick Liberal premier Frank McKenna says if he were in Prime Minister Justin Trudeau鈥檚 shoes, at this point in the government鈥檚 mandate, he would step down.
A new resident at a Manitoba animal rescue has waddled her way into people's hearts.
Hundreds of people ran to the music of German composer and pianist Beethoven Wednesday night in a unique race in Halifax.
He is a familiar face to residents of a neighbourhood just west of Roncesvalles Avenue.
A meteor lit up our region's sky last night 鈥 with a large fireball shooting across the horizon over Lake Erie at around 7:00 p.m.
Residents of Ottawa's Rideauview neighbourhood say an aggressive wild turkey has become a problem.
A man who lost his life while trying to rescue people from floodwaters, and a 13-year-old boy who saved his family from a dog attack, are among the Nova Scotians who received a medal for bravery Tuesday.
A newly minted Winnipegger is hoping a world record attempt will help bring awareness for the need for more pump track facilities in the city.
A Springfield, Ont. man is being hailed a 'hero' after running into his burning home to save his two infant children.
Hortense Anglin was the oldest graduate to make her way across the platform at York University's Fall Convocation ceremony this week. At the age of 87, she graduated with an Honours degree in Religious Studies.