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BumRushDaShow

(132,016 posts)
Wed May 22, 2024, 08:04 PM May 22

US Justice Department to Seek Breakup of Live Nation-Ticketmaster [View all]

Source: Bloomberg

May 22, 2024 at 6:21 PM EDT
Updated on May 22, 2024 at 6:41 PM EDT


The US Justice Department and a group of states will sue Live Nation Entertainment Inc. for antitrust violations related to Ticketmaster’s unrivaled control of concert ticket sales, according to people familiar with the case.

The suit is expected to be filed in the Southern District of New York Thursday, said the people who asked not to be identified. The dispute will seek remedies including breaking up Live Nation, said the people, who asked not to be named discussing confidential information.

Live Nation shares dropped by 10% in late trading following Bloomberg’s report on the Justice Department’s planned lawsuit. The Justice Department declined to comment. Live Nation didn’t immediately respond to requests for comment.

The move is the latest antitrust suit pursued by the Biden administration, which has made competition a key component of its economic policy, bringing cases against companies including Alphabet Inc.’s Google and Amazon.com Inc.

Read more: https://www.bloomberg.com/news/articles/2024-05-22/justice-department-to-seek-breakup-of-live-nation-ticketmaster

14 replies = new reply since forum marked as read
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Yes! About Fing time, too! unblock May 22 #1
wait a minute - let me check my worry locker..... getagrip_already May 22 #2
I have never used them. But then again... LiberalFighter May 22 #3
'"It was REO Speedwagon" JoseBalow May 22 #6
Bwahaha! Ligyron May 22 #7
You saw REO Speedwagon and thought Time for me to fly IronLionZion May 22 #9
We saw the Rolling Stones in 2021 and used them. Ugh... their service was horrible. LeftInTX May 23 #12
2083? NanaCat May 23 #13
Oops 1983 LeftInTX May 23 #14
Don't screw with Taylor Swift truthisfreedom May 22 #4
Yes, tickets can be thousands more here than in Europe IronLionZion May 22 #10
Good! What a joke they are. AllyCat May 22 #5
Ticketmaster is a scourge erodriguez May 22 #8
Finally HandmaidsTaleUntold May 23 #11
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