美国比较大的杂志出版商合并计划取消

美国最大的杂志出版商合并计划取消

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.

杂志和图书出版商终于可以松一口气了。此前，由于担心合并会导致价格上涨，美国当局叫停了轰动一时的印刷业合并计划。

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.

印刷业巨头Quad Graphics和LSC Communications周二表示，由于遭到美国司法部的强烈反对，他们将自愿终止14亿美元的合并计划。司法部在6月份提出诉讼，要求阻止这项交易。

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.

两家公司在2018年10月31日宣布了全股票交易，两家公司的股东在今年2月批准了这笔交易。年营收约42亿美元的Quad Graphics家族将收购LSC，后者去年的营收约为38亿美元。

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的股价午盘上涨逾7%，至8.19美元，而LSC的股价则暴跌逾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，美国司法部反垄断部门提起诉讼，要求阻止这笔交易，称合并将使仅有的两家重要杂志、目录和图书供应商合并。

“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.

司法部反托拉斯部门负责人、助理司法部长马克恩德拉希姆在一份声明中说：“这一结果是美国消费者和出版商的胜利，也证明了司法部执行反垄断法的决心。”

“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.”

“如果这次合并继续下去，它将损害竞争，使出版商、零售商和最终消费者受益，因为从畅销书到小学教科书，印刷品的价格更低，供应量更大。”

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的董事长、总裁兼首席执行官Joel Quadracci说：“我们对司法部起诉阻止交易的决定感到失望，我们认为这起诉讼并不能反映当今印刷业的动态和数字媒体的竞争效应。”

“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.

他说:“不过，我们没有把时间和资源花在旷日持久的诉讼上，而是选择专注于确保我们的客户从我们的Quad 3.0增长战略中受益，通过令人兴奋的印刷创新和整合的多渠道营销解决方案。”

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三方破产后的一个分支，而Quad Graphics近年来一直在坚持不懈地进行整合。LSC在2017年收购了Publishers Press, Quad在2014年以1亿美元收购了Brown Printing，并在2010年以13亿美元收购了World Color Press。