The Justice Department on Thursday announced it has filed a suit against Ticketmaster's LA-based parent company Live Nation Entertainment, seeking to break up the company over allegations that it created an illegal monopoly over the live entertainment industry.
'The DOJ's lawsuit won't solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows,' the company said. 'Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court because it ignores the basic economics of live entertainment, such as the fact that the bulk of service fees go to venues, and that competition has steadily eroded Ticketmaster’s market share and profit margin.
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