DOJ Nod to Liberty Boosting iHeart Stake Threatens Local Media, Says OMI
DOJ approval of a deal that would allow Liberty Media to increase its share in iHeartMedia last week “threatens news stations, music outlets, and media workers across the country,” said Open Markets Institute's Center for Journalism and Liberty. The government…
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nod allows Liberty to increase stake in iHeartMedia, currently at 5%, by up to 50%, confirmed an iHeart spokesperson Friday. “Liberty Media already controls too much of the media market, and this merger means it can expand its empire and further concentrate power over local media markets nationwide,” said Center for Journalism and Liberty Director Jody Brannon. Brannon said the U.S. should institute a merger moratorium during the pandemic crisis. Liberty and DOJ didn’t comment.