On January 31, 2024, Universal Music Group (UMG), the record label for some of the world’s biggest acts, pulled its licensed music from TikTok, and millions of videos on TikTok went silent.[1] The music, once available for over one billion TikTok users globally to add short snippets to their content, was no more.[2] UMG is one of the largest music conglomerates in the world.[3] It owns record labels such as Republic, Capital, and Interscope Records.[4] Artists like Taylor Swift, Olivia Rodrigo, Harry Styles, and Drake all fall under the UMG publishing purview.[5] Further, this TikTok ban also affects songwriters, as…
Author: Olivia Kempner
After suspending withdrawals in June 2022, cryptocurrency exchange Celsius Network has emerged from Chapter 11 Bankruptcy, ushering in the commencement of distribution of over $3 billion in cryptocurrency and fiat currency to its creditors.[1] The good news follows after 18 months of the company’s roller-coaster Chapter 11 Bankruptcy case that presented fascinating complexities such as dollarization concerns, regulatory fines from agencies such as the SEC, and the steep decline in the value of Celsius’ CEL token.[2] The Bankruptcy also came when many other crypto platforms, such as BlockFi, found themselves entangled in Bankruptcy proceedings following the collapse of FTX in…
On October 16, 2023, Rite Aid filed for Chapter 11 bankruptcy protection after losing more than one billion dollars in the months leading up to the filing.[1] The attempt to restructure comes after increasing debts, much of which come from opioid-related lawsuits.[2] This filing comes on the heels of other opioid-related bankruptcy filings, including Purdue Pharma[3] and Mallinckrodt.[4] The Opioid Crisis In 2021, 220 Americans died each day from an opioid overdose.[5] Those who are affected by opioid addiction often start taking opioids as a medication prescribed by their doctors for short-term usage after an acute injury, such as a…
On June 27, 2023, the Federal Trade Commission (“FTC”) announced a proposal to make sweeping changes to the Hart-Scott-Rodino (“HSR”) premerger notification program.[1] The newly proposed requirements and filing process will likely increase the number of hours it takes to prepare the forms by sixfold and add significant financial burden on future dealmakers.[2] The HSR Act is an antitrust law that generally requires parties to report large transactions—currently set at transactions valued over $111.4 million dollars—to the FTC and the U.S. Department of Justice Antitrust Division so that the agencies may review whether a transaction will substantially harm competition.[3] It…
In September 2023, the Federal Trade Commission (“FTC”) initiated an antitrust suit against Amazon, accusing the company of illegally maintaining a monopoly in the “online superstore” and “online marketplace services” markets.[1] But what exactly does the FTC allege Amazon is doing to illegally maintain a monopoly? Exclusionary Anti-Discounting Conduct with third-party sellers First, the FTC claims Amazon punishes third-party sellers for offering lower prices on other websites.[2] Third-party sellers sell directly to consumers on Amazon Marketplace.[3] Amazon uses their Competitive Monitoring Team to detect price changes for thousands of products that third-party sellers sell anywhere on the internet.[4] Previously, Amazon…
When it comes to antitrust laws and their impact on American sports leagues, baseball is in a verifiable league of its own. For a century, professional baseball has held a unique exemption from antitrust laws, making its business distinctly immune from the pressure of Section 1 of the Sherman Act in ways that no other American sports league is.[1] While it has long been the subject of debate, and has survived several past challenges, its most recent challenge, posed by several formerly affiliated minor league baseball teams, has led to a petition for certiorari.[2] In addition, this case has been…
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