Department of Justice officials are talking to music companies about Liberty Media's request to expand its 5% stake in iHeartMedia -- and many are pushing back.
HeartRadio music radio, part of the iHeartMedia company, at the company's local headquarters in the South of Market neighborhood of San Francisco on Oct. 13, 2017.
Merger opponents fear the resulting broadcast powerhouse might streamline the airwaves, cutting costs by reducing playlists to established hits and syndicating content -- just as Clear Channel Communications did in the late 1990s and early 2000s. An April 15 letter to the DOJ from the nonprofit Artist Rights Alliance declared the merger's"potential impact on radio markets is evident and likely catastrophic, removing competitive discipline across multiple market segments.
DOJ reps didn't comment either, so it's unclear how the U.S. might lean on the proposal. Some say the Trump administration favors corporate growth, so the department might be inclined to approve the merger. And Liberty could argue it is competing not just with other broadcast companies like Entercom and Cox, but with Apple, Amazon, Google and Spotify., an entertainment attorney who specializes in antitrust issues.
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