New Zealand is the third country to give its approval to the Penguin, Random House merger. The country’s Commerce Commission said its examination found that the merger was unlikely to “substantially lessen competition” in the book publishing and distribution markets.
Commerce Commission chairman Dr. Mark Berry said, “In reaching our decision, the Commission considered that, in each of the relevant markets, the merged entity would be constrained from raising prices by a combination of existing competitors and the countervailing power of large customers.”
Earlier this year, the U.S. Department of Justice approved the deal, as did the Australian regulatory authorities.
