Mergers & Antitrust Law News

Rhapsody, iHeartMedia Dropped From Streaming ‘Monopsony’ Suit

July 8, 2020, 6:00 PM

Rhapsody and iHeartMedia appear to have settled claims in Connecticut federal court that they conspired with other streaming music giants like Amazon, Apple, Google, Pandora, SoundCloud, and Spotify to fix prices from the buyers’ side.

Pro Music Rights LLC—a licensing company founded by 21-year-old Jake Noch—let iHeartMedia out of the case Wednesday, less than a week after it filed court papers July 2 indicating it had dropped its claims against Rhapsody.

Neither filing expressly discloses a settlement, but both dismissals are with prejudice, meaning PMR voluntarily gave up its right to refile against the two companies....

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