The updated antitrust merger guidelines state that a market with an HHI over 1,800 is highly concentrated. If a transaction increases the HHI by more than 100 points, it creates a regulatory presumption of substantially lessened competition under Section 7 of the Clayton Act.
Recent merger challenges (such as state AG suits backed by guilds) specifically focus on buyer power over specialized labor (e.g., Hollywood screenwriters, VFX talent, healthcare nurses). Settlements require explicit salary floors, independent greenlight quotas, and pension contributions.
Antitrust enforcers generally prefer structural relief (clean asset divestitures to well-capitalized buyers). Behavioral commitments—such as non-discrimination clauses or arbitration agreements—are used alongside divestitures to appease state attorneys general and union intervenors.