{"title":"Considerations of monopsony in merger analysis: The Penguin Random House case","authors":"Brianna L. Alderman, Roger D. Blair","doi":"10.1093/jaenfo/jnae041","DOIUrl":"https://doi.org/10.1093/jaenfo/jnae041","url":null,"abstract":"\u0000 In 2020, Bertelsmann SE & Co., the owner of Penguin Random House (PRH), offered to acquire Simon & Schuster for $2.175 billion. If the merger had been consummated, the newly merged firm would have had a 49 per cent share of the market for publishing rights to anticipated top-selling books. Concerned by the proposed merger, the Department of Justice alleged that a more concentrated sector for publishing would result in lower advances to authors of highly anticipated books. The antitrust concern, therefore, centred on the exercise of monopsony power rather than monopoly power. The District Court was persuaded by the evidence presented at trial and blocked the merger on that ground. Having lost at trial, PRH decided to forgo an appeal. This article provides a brief analysis and critique of the District Court’s ruling.","PeriodicalId":42471,"journal":{"name":"Journal of Antitrust Enforcement","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2024-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141929518","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Competition policy and the consumer welfare standard","authors":"John Vickers","doi":"10.1093/jaenfo/jnae038","DOIUrl":"https://doi.org/10.1093/jaenfo/jnae038","url":null,"abstract":"This paper, which was given as the 2024 Bellamy Lecture, reviews the law and economics of the consumer welfare standard in competition policy, particularly in relation to mergers and abuse of dominance. With qualifications relating to input markets, the consumer welfare approach is defended against arguments for its relaxation, and against contrary criticisms that it is unduly permissive.","PeriodicalId":42471,"journal":{"name":"Journal of Antitrust Enforcement","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-07-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141576670","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The evolution of EU competition law and policy in the pharmaceutical sector: long-lasting impacts of a pandemic","authors":"Mina Hosseini","doi":"10.1093/jaenfo/jnae037","DOIUrl":"https://doi.org/10.1093/jaenfo/jnae037","url":null,"abstract":"This article investigates the evolution of the European Union (EU) competition law and policy enforcement in the pharmaceuticals sector, focusing on the impact of the coronavirus disease 2019 (COVID-19) crisis as a turning point. Before COVID-19, EU competition authorities’ goals and priorities focused on pay-for-delay agreements between originators and generic pharmaceutical undertakings. During COVID-19, the European Commission developed soft laws (such as temporary frameworks and comfort letters) enabling undertakings to cooperate to increase access to essential health products and COVID-19 vaccines. In the post-pandemic era, initiatives like the Pharmaceutical Strategy for Europe, the Single Market Emergency Instrument (SMEI), the Health Emergency Response Authority (HERA), the compulsory licensing proposal and the upcoming changes in the pharmaceutical regulations reflect a patient-centred approach and diverse agenda. This article underscores the move towards a more inclusive EU competition law and policy framework in the pharmaceutical sector as part of this evolution.","PeriodicalId":42471,"journal":{"name":"Journal of Antitrust Enforcement","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141550430","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A new order for EU merger control in digital markets","authors":"Anna Lyle-Smythe, Jacopo Pelucchi","doi":"10.1093/jaenfo/jnae030","DOIUrl":"https://doi.org/10.1093/jaenfo/jnae030","url":null,"abstract":"","PeriodicalId":42471,"journal":{"name":"Journal of Antitrust Enforcement","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141378886","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Fairness and contestability in the provision of software application stores services","authors":"Jorge Padilla","doi":"10.1093/jaenfo/jnae032","DOIUrl":"https://doi.org/10.1093/jaenfo/jnae032","url":null,"abstract":"","PeriodicalId":42471,"journal":{"name":"Journal of Antitrust Enforcement","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141108490","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Is the DMA (Un)fair?","authors":"Mariateresa Maggiolino","doi":"10.1093/jaenfo/jnae022","DOIUrl":"https://doi.org/10.1093/jaenfo/jnae022","url":null,"abstract":"","PeriodicalId":42471,"journal":{"name":"Journal of Antitrust Enforcement","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140971435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"European market oversight reforms: a critical look at types and objectives of intervention","authors":"Y. Katsoulacos","doi":"10.1093/jaenfo/jnae012","DOIUrl":"https://doi.org/10.1093/jaenfo/jnae012","url":null,"abstract":"","PeriodicalId":42471,"journal":{"name":"Journal of Antitrust Enforcement","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140990947","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Digital Markets Act, leaving Europe with an oblique battle order","authors":"Thomas Lübbig","doi":"10.1093/jaenfo/jnae025","DOIUrl":"https://doi.org/10.1093/jaenfo/jnae025","url":null,"abstract":"","PeriodicalId":42471,"journal":{"name":"Journal of Antitrust Enforcement","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140997474","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"From silence to vigilance: overcoming barriers in public reporting of bid-rigging and cartel violations","authors":"Koki Arai","doi":"10.1093/jaenfo/jnae027","DOIUrl":"https://doi.org/10.1093/jaenfo/jnae027","url":null,"abstract":"There are several ways to collect information on violations of antitrust laws, including ex officio detection, reports from the general public, and the use of leniency systems. There have been many discussions on improvements in the use of leniency systems and refining the ex officio detection method by improving the use of data by methods of analysis. However, improvements in public reporting have not often been considered. In this study, we confirm that 68.8 per cent of the general public provides information on bid-rigging and 49.6 per cent of the general public provides information on cartels, and that the reason for not providing information is the unlikelihood of success, which means a sense of powerlessness against powerful companies, followed by a feeling of lack of responsibility. Therefore, addressing that perception is the key to increasing information from the general public.","PeriodicalId":42471,"journal":{"name":"Journal of Antitrust Enforcement","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140931033","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The new EU and UK regimes for regulating competition in digital markets: we finally see what’s on the plate—but do we know how to eat it?","authors":"Oles Andriychuk","doi":"10.1093/jaenfo/jnae028","DOIUrl":"https://doi.org/10.1093/jaenfo/jnae028","url":null,"abstract":"","PeriodicalId":42471,"journal":{"name":"Journal of Antitrust Enforcement","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141004184","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}