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DOJ: Live Nation and Ticketmaster Illegally Monopolize Events
Posted
May 23, 2024
Views
2,148
Likes
69
Comments
6
Engagement
3.49%
May 23, 2024
2,148
69
6
3.49%
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0:35Now PlayingThe US Justice Department and almost 30 states sued Live Nation Entertainment Inc. seeking to force the company to sell off ticketing giant Ticketmaster.
In a complaint filed Thursday in New York federal court, antitrust enforcers alleged that Live Nation and Ticketmaster illegally monopolized the live events industry by engaging in a variety of anticompetitive practices. Those include locking venues into long-term exclusive contracts and retaliating against rivals and venues that seek to use alternatives.
Shares of Live Nation were down 5.5% to $95.84 at 11:05 a.m. in New York, shortly after the lawsuit was filed.
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