With the Federal Trade Commission stepping in to block CoStar Group's $588M acquisition of RentPath, the Bethesda, Maryland-based real estate data giant is under scrutiny over whether its dominance makes it something it has long denied being: a monopoly.
The FTC said on Monday it has filed an administrative complaint against CoStar and authorized a lawsuit against the company, alleging that the acquisition of RentPath would concentrate too much of a specialty niche in CoStar's hands by consolidating internet listings for vacancies in large apartment complexes in one place. The FTC had signaled its interest last spring when it quickly asked CoStar for more information after the deal was announced in February.
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