against Live Nation and Ticketmaster . The suit argues that the 2010 merger of the two companies gave Live Nation-Ticketmaster “power over performers, venues, and independent promoters in a ways that harm competition.” They further allege that the merger has stifled competition and innovation, leaving fans in the U.S. with “outdated technology” and higher ticket prices than fans in other countries.
Chief among those arguments is that neither Live Nation nor Ticketmaster set or control ticket prices — artists and their teams do. Wall said the antitrust suit “ignores everything that is actually responsible for higher ticket prices,” such as higher production costs, artist popularity, online ticket scalping, and secondary resale markets.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DOJ sues Live Nation and Ticketmaster, alleging 'monopolistic control' over live events businessThe Justice Department has filed a civil antitrust lawsuit against Live Nation-Ticketmaster, alleging 'monopolization and other unlawful conduct.'
Source: FoxBusiness - 🏆 458. / 53 Read more »
Watch Live: DOJ announces Live Nation and Ticketmaster antitrust lawsuitThe Department of Justice filed an antitrust lawsuit against Live Nation Entertainment, accusing the world's largest concert promoter and ticketing company of…
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »
‘It's time to break up Live Nation': DOJ sues Ticketmaster parent company over illegal monopolyThe Department of Justice filed an antitrust lawsuit against Live Nation Entertainment, accusing the world's largest concert promoter and ticketing company of…
Source: NBCDFW - 🏆 288. / 63 Read more »
Jim Cramer applauds DOJ suit to break up Live Nation, raves about Ralph LaurenJim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio.
Source: CNBC - 🏆 12. / 72 Read more »
DOJ sues Live Nation to break up alleged Ticketmaster monopolyThe Department of Justice, California and other states sued the concert behemoth Live Nation, alleging anti-trust violations that could break up the company.
Source: latimes - 🏆 11. / 82 Read more »