Open Markets Institute condemns DOJ decision and stresses need for merger moratorium 

WASHINGTON — The Center for Journalism and Liberty at the Open Markets Institute opposes the Department of Justice’s decision to approve Liberty Media’s bid to increase its stake in iHeartMedia.

In response, Jody Brannon, director of the Center for Journalism and Liberty, issued the following statement:

 “Make no mistake: This Liberty-iHeart deal threatens news stations, music outlets, and media workers across the country. 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, reducing the number of news outlets and music choices while increasing advertising rates. 

“We warned that Liberty Media would be able to win DOJ approval for this merger as soon as they began consulting on it. This decision proves our fears right and will likely lead to more cutbacks in already struggling newsrooms nationwide, given the continuing reverberations of the COVID-19 pandemic on the industry. 

 “The federal government had a chance to protect American journalism – and to listen to our call with the Artists Rights Alliance and other allies – to block this merger. Instead, the DOJ again chose to put corporations before people. Our country needs a merger moratorium now more than ever, to block profiteering companies such as Liberty Media from acquiring more and more power while the rest of the nation suffers.”

Read more: 

Open Markets Institute and allies urge DOJ to stop Liberty Media’s deal with iHeart: https://www.openmarketsinstitute.org/publications/open-markets-calls-ban-takeovers-large-corporation-funds-duration-crisis/

Open Markets Institute calls for merger moratorium: https://www.openmarketsinstitute.org/publications/open-markets-calls-ban-takeovers-large-corporation-funds-duration-crisis/