Anticompetitive practices, outrageous ticket fees and poor customer service were among the allegations leveled at Live Nation Entertainment Tuesday at a contentious Senate Judiciary Committee Hearing over botched Taylor Swift concert ticket presales by the company’s Ticketmaster subsidiary. Senator Amy Klobuchar (D-Minnesota) called the Live Nation relationship to Ticketmaster “the definition of monopoly,” adding that venues fearful of losing the company’s concerts don’t have the ability to push back because Live Nation is “so powerful that it doesn’t even need to exert pressure, it doesn’t need to threaten because people just fall in line.” Read more

Rupert Murdoch has cancelled plans to consider merging the Fox Corporation, parent of Fox News, with News Corp, which owns The Wall Street Journal. Murdoch, who is chairman of Fox and executive chairman of News Corp, said in a statement that he and son Lachlan Murdoch, co-chairman of News Corp and chairman and CEO of Fox, have “determined that a combination is not optimal” for shareholders at this time. The move comes as News Corp is embroiled in negotiations to sell Realtor.com owner Move Inc. to commercial realty firm CoStar Group in a deal valued at around $3 billion. Read more

The National Basketball Association is extending its partnership with Meta Platforms in a multiyear deal that will include virtual reality experiences via the Horizon Worlds online platform and Meta Quest, “the official VR headset of the NBA and WNBA.” The NBA Arena in Meta Horizon Worlds will feature live NBA League Pass games in VR throughout the season. NBA-licensed apparel will launch in the Meta Avatars Store. Authenticated NBA accounts will also be able to experience shared watching in HD using Quest with VR sports hub Xtadium. Read more

Microsoft is expanding its relationship with OpenAI, entering what it calls “the third phase of our long-term partnership” with a multiyear, multibillion dollar investment to accelerate AI breakthroughs to ensure these benefits are broadly shared with the world.” Although the companies did not disclose financial terms, Microsoft’s investment was previously reported as $10 billion. The New York Times reports OpenAI is also in talks to complete a tender offer for as much as $300 million (contingent on the number of employees selling stock), “which would value the company at around $29 billion.” Read more

Disney touted its capabilities this week at the company’s Tech & Data Showcase for advertisers, part of the company’s Road to the Upfront. Among the disclosures, Disney in April will begin adding some Hulu ad-targeting capabilities to Disney+, with Hulu’s “full suite of ad products and services” available throughout the entire Disney streaming portfolio by July. Since last year Hulu has been deploying a proprietary ad server Disney is said to have built from the ground up, putting it to work on the ad-supported Disney+ Basic tier launched in December. Read more