The Justice Department and a group of states plan to sue Live Nation LYV -0.57%decrease; red down pointing triangle on Thursday, alleging the entertainment giant has used its ticketing monopoly to suppress competition and should be broken up, according to people familiar with the matter.
The lawsuit, to be filed in a New York federal court, would seek changes to the company’s business practices, including by asking a judge to effectively undo the 2010 merger of Live Nation and Ticketmaster. The Justice Department during the Obama administration allowed the merger to close despite concerns it would create an indomitable live-entertainment giant.
Among the practices the department plans to challenge are exclusive ticketing contracts that Ticketmaster has with many of the venues where high-profile acts perform, the people said.
Those agreements typically run between three and five years and Ticketmaster often gives lucrative financial advances that entice the venues to sign up for long-term deals.
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@R3publicPeacockDemocrat2yrs2Y
Concerts and live entertainment are silly, frivolous activities that do not need government meddling.
If the fees they charge are too high, save your money and do something else.
Or build a competing service.
@InnocentTigerPatriot2yrs2Y
Agreed! I’m tired of these communists interfering in our beautiful free markets.
What’s next? Are they going to ask the government to subsidize their concert tickets?
Or build a competing service.
Not possible.
"Live Nation has at least a 50% market share in concert promotion, while Ticketmaster controls more than 80% of the market for primary ticket sales at the biggest venues in the U.S."
@AntelopeRickRepublican2yrs2Y
Won't complain about the outrageous fees that Ticketmaster/Live Nation charge.
Won't complain about the way Ticketmaster/Live Nation takes a fee from both buyer and seller when you resale a ticket.
What I will say is Ticketmaster/Live Nation abuses the customer, with the worst customer service imaginable. Refuses to operate a customer service portal to contact when there is a problem, when there is a problem and you contact them it takes days for them to respond.
Why doesn't Ticketmaster/Live Nation work to do better? Because they don't need to, they control the ticket market through their exclusive agreements with venues.
These two should have never been allowed to combine.
Break them apart.
@AnnoyedBoarsDemocrat2yrs2Y
Republicans should have brought this action during the Trump years. It has a strong case on the merits, it's something younger voters might care about (along with us not-younger voters who remember the Pearl Jam saga on this issue). To boot, the company gives almost all its money to Democrats. Instead, it's the usual nonsense of go build your own venues, go sign your own 360 deal with one of maybe twenty bankable acts, etc.
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