Apple's Beats Music Draws Antitrust Scrutiny Over Deals With Record Labels
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Apple Inc's move to line up deals with record labels is under U.S. antitrust scrutiny as the iPhone maker prepares to debut a new version of the Beats Music streaming service, Bloomberg reported, citing people familiar with the matter.
The Federal Trade Commission (FTC) is examining if Apple is using its position as the top seller of music downloads through its iTunes store to put rival music services like Spotify Ltd at a disadvantage, according to Bloomberg.
Apple bought Beats last year hoping to win points with the music industry and turn Beats Music into a strong competitor to Spotify and other streaming services.
Apple and the FTC did not immediately respond to requests seeking comment outside regular business hours.
(Reporting by Avik Das in Bengaluru; Editing by Gopakumar Warrier)