Reported 5 months ago
The US Department of Justice has officially filed an antitrust lawsuit against Live Nation, seeking to break up the entertainment giant for alleged coercive tactics and violations of agreements related to its merger with Ticketmaster in 2010. The lawsuit claims Live Nation is acting as a gatekeeper in the live music industry, harming artists, venues, fans, and competitors. The DOJ alleges Live Nation is controlling how artists access venues, pushing exclusive contracts with Ticketmaster on venues, and imposing various fees on consumers. Analysts suggest that divesting Ticketmaster could significantly impact Live Nation's profits, but it remains uncertain if this legal action will effectively address consumer concerns over ticket fees.
Source: YAHOO