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There's Pushback on Liberty's Plan to Expand iHeart Stake — and the DOJ Is Listening

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Department of Justice officials are talking to music companies about Liberty Media's request to expand its 5% stake in iHeartMedia, according to several sources -- and many are pushing back."Having too much power in one industry is very dangerous," says Dina LaPolt, a music-business attorney who is president of the Tupac Amaru Shakur Foundation board. "I would not want to see it go through.

I like having diversity. With diversity, people are able to thrive."Liberty, the Denver-area media conglomerate run by billionaire John Malone, has slowly expanded its music holdings over the past decade, striking during downturns and targeting ailing companies before turning them around.

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