Reported 5 months ago
The US Justice Department and nearly 30 states have sued Live Nation Entertainment Inc., alleging an illegal monopoly with Ticketmaster in the live events industry. The lawsuit aims to force Live Nation to sell Ticketmaster, citing anticompetitive practices like exclusive contracts and retaliation against rivals. Live Nation controls a significant portion of concert venues and ticketing, leading to higher fees for fans. The company plans to defend against the allegations, stating that the lawsuit ignores the economics of live entertainment. The case is seen as a significant antitrust move by the Justice Department, signaling a push to break up monopolies in various industries.
Source: YAHOO