NY Post Report: Justice Dept. Anti-Trust Division Reviewing Liberty Media's Deal To Acquire Control Of iHeartMedia

Liberty Marriage Under Review

Just before the holidays set in (NET NEWS 12/12) ALL ACCESS reported that LIBERTY MEDIA CORP. was looking to buy more of iHEARTMEDIA and could gain control or outright ownership of the radio and podcasting company as a result, putting it under common ownership with SIRIUSXM, PANDORA, and LIVE NATION. LIBERTY, headed by JOHN MALONE, was seeking DOJ approval.

Now, citing sources, the NEW YORK POST is speculating that the JUSTICE DEPARTMENT's Antitrust Division is taking a look at this potential deal with concerns over "the potential for reduced competition between SIRIUSXM and iHEART if they merge," said HOLLAND & KNIGHT lawyer DAVID KULLY, who oversaw radio mergers for the JUSTICE DEPARTMENT from 2013 through 2016.

"They could not rule out the potential of harm to listeners from this acquisition,” KULLY said of the DEPARTMENT’s decision to take a closer look at a SIRIUS/iHEART marriage.

While such a massive deal would definitely get a lot of government review due to the size and scope of these two media giants coming together, there is nothing definitive about a block being considered at this point, despite the speculative nature of the NY POST story and headline.

ALL ACCESS has reached out to both LIBERTY MEDIA and iHEARTMEDIA for comment. iHEARTMEDIA declined comment.

Read the full story in the NEW YORK POST, here.

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