Reported 6 months ago
The U.S. Justice Department and over two dozen states have filed a lawsuit against Live Nation, accusing the concert promoter and Ticketmaster unit of unlawfully inflating ticket prices and harming artists, with Attorney General Merrick Garland calling for Live Nation to be broken up due to monopolistic control over the live events industry. The lawsuit highlights the Biden administration's aggressive antitrust enforcement, aiming to increase competition across various sectors, and Live Nation's stock dropped by 8.3% following the legal action. The lawsuit seeks to divest Ticketmaster and provide additional relief to address anticompetitive harm, with bipartisan support from attorneys general and calls from politicians for legislation to promote competition in the ticketing market.
Source: YAHOO