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He US Department of Justice And group of 30 states And COLUMBIA REGION. On Thursday they presented lawsuit to dissolve Live Nationclaiming that the great concert promoter and
He US Department of Justice And group of 30 states And COLUMBIA REGION. On Thursday they presented lawsuit to dissolve Live Nationclaiming that the great concert promoter and his division Ticketmaster illegally inflated concert ticket prices and they harmed artists.
“It’s time to disband Live Nation”said US Attorney General Merrick Garland.
Concert fans and politicians have been calling for years Review of Live Nation’s 2010 purchase of Ticketmasterespecially after the ticket company disrupted the sale of Taylor Swift’s first concert in years in 2022, forcing customers to queue for hours online, charging prices that customers considered too high and criticizing services.
Thursday’s trial highlights President Joe Biden’s Aggressive Antitrust Approach as it seeks greater competition across a wide range of sectors, from big tech to healthcare to food.
“This is based on illegal and anti-competitive behavior to exercise its monopolistic control on the U.S. live events industry at the expense of fans, artists, small promoters and venue operators,” Garland added, adding that the result is fans paying more in fees, artists having fewer opportunities to perform, and smaller promoters being sidelined.
In the lawsuit, the Justice Department and the states asked the court “order the sale of, at a minimum, Ticketmaster, and take any additional measures necessary to address any anti-competitive harm.”
Live Nation called the lawsuit a potential “short-term PR victory for the Department of Justice” but said the entertainment company will prevail in court. Demand “Will not address fan concerns related to ticket prices, service fees and access to high-demand shows.”
He later added:
The live events market is more competitive than ever.
According to the lawsuit, Live Nation directly manages more than 400 music artists and controls about 60% of concert shares. at the main sites. In addition, it owns or controls more than 265 concert venues in North America and, through Ticketmaster, controls approximately 80% or more of primary concert ticket sales at major venues.
Reuters
Source: Aristegui Noticias
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