美國比較大的雜志出版商合并計劃取消

美國最大的雜志出版商合并計劃取消

Magazine and book publishers are breathing a sigh of relief after a blockbuster printer merger was called off amid concerns that it would lead to higher prices.

雜志和圖書出版商終于可以松一口氣了。此前，由于擔心合并會導致價格上漲，美國當局叫停了轟動一時的印刷業(yè)合并計劃。

Printing giants Quad Graphics and LSC Communications said Tuesday that they are voluntarily ending their $1.4 billion merger plansthanks to stiff opposition from the Department of Justice, which sued to block the deal in June.

印刷業(yè)巨頭Quad Graphics和LSC Communications周二表示，由于遭到美國司法部的強烈反對，他們將自愿終止14億美元的合并計劃。司法部在6月份提出訴訟，要求阻止這項交易。

The companies had announced the all-stock transaction on Oct. 31, 2018, and shareholders of both companies had approved the deal in February. Family-controlled Quad Graphics, with generates about $4.2 billion in annual revenue, would have acquired LSC, which took in roughly $3.8 billion in revenue last year.

兩家公司在2018年10月31日宣布了全股票交易，兩家公司的股東在今年2月批準了這筆交易。年營收約42億美元的Quad Graphics家族將收購LSC，后者去年的營收約為38億美元。

Shares of Quad graphics jumped more than 7% in midday trading to $8.19, while shares of LSC plummeted more than 35% on the news to $2.23.

Quad graphics的股價午盤上漲逾7%，至8.19美元，而LSC的股價則暴跌逾35%，至2.23美元。

The Department of Justice’s antitrust division sued to block the deal in June, saying the merger would combine the only two significant providers of magazines, catalogs and books.

今年6月，美國司法部反壟斷部門提起訴訟，要求阻止這筆交易，稱合并將使僅有的兩家重要雜志、目錄和圖書供應商合并。

“This result is a victory for American consumers and publishers, and a testament to the Division’s resolve to enforce the antitrust laws,” Assistant Attorney General Makan Delrahim, who heads the Justice Department’s antitrust division, said in a statement.

司法部反托拉斯部門負責人、助理司法部長馬克恩德拉希姆在一份聲明中說：“這一結果是美國消費者和出版商的勝利，也證明了司法部執(zhí)行反壟斷法的決心。”

“Had this merger gone forward, it would have harmed competition that benefits publishers, retailers, and, ultimately, consumers through lower prices and greater availability of printed products from popular books to grade school textbooks.”

“如果這次合并繼續(xù)下去，它將損害競爭，使出版商、零售商和最終消費者受益，因為從暢銷書到小學教科書，印刷品的價格更低，供應量更大。”

Joel Quadracci, the chairman, president and CEO of Quad Graphics said, “We are disappointed by the Justice Department’s decision to sue to block the transaction and believe that the lawsuit does not reflect the dynamics of print today and the competitive effect of digital media.

Quad Graphics的董事長、總裁兼首席執(zhí)行官Joel Quadracci說：“我們對司法部起訴阻止交易的決定感到失望，我們認為這起訴訟并不能反映當今印刷業(yè)的動態(tài)和數(shù)字媒體的競爭效應。”

“However rather than devote time and resources to prolonged litigation, we are choosing to focus on ensuring that our clients benefit from our Quad 3.0 growth strategy through exciting innovations in printing and integrated multichannel marketing solutions,” he said.

他說:“不過，我們沒有把時間和資源花在曠日持久的訴訟上，而是選擇專注于確保我們的客戶從我們的Quad 3.0增長戰(zhàn)略中受益，通過令人興奮的印刷創(chuàng)新和整合的多渠道營銷解決方案。”

Both LSC, a spinoff from the three-way bust-up of RR Donnelly in 2016, and Quad Graphics had been on a relentless consolidation path in recent years. LSC acquired Publishers Press in 2017, while Quad bought Brown Printing for $100 million in 2014 and acquired World Color Press for $1.3 billion in 2010.

LSC是2016年RR Donnelly三方破產后的一個分支，而Quad Graphics近年來一直在堅持不懈地進行整合。LSC在2017年收購了Publishers Press, Quad在2014年以1億美元收購了Brown Printing，并在2010年以13億美元收購了World Color Press。