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Government sues Ticketmaster owner and asks court to break up company's monopoly on live events

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WASHINGTON (AP) — The Justice Department sued Ticketmaster and its parent company Thursday, accusing them of running an illegal monopoly over live events in America and asking a court to break up the system that squelches competition and drives up pr

WASHINGTON — The Justice Department sued Ticketmaster and its parent company Thursday, accusing them of running an illegal monopoly over live events in America and asking a court to break up the system that squelches competition and drives up prices for fans.

“Live music should not be available only to those who can afford to pay the Ticketmaster tax,” said Assistant Attorney General Jonathan Kanter of the Justice Department's Antitrust Division. “We are here today to fight for competition so that we can reopen the doors to the live music industry for all.”

In 2021, the concert giant threatened to financially retaliate against a firm if one of its portfolio companies didn't stop competing with Live Nation for artist promotion contracts, the Justice Department alleged. A breakup between Live Nation and Ticketmaster is possible, Carrier said. That, combined with other remedies such as preventing some exclusive deals that shackle competition, could potentially help fans see lower ticket prices, give artists more agency in choosing venues and boost smaller promoters' success in the long run, he noted.

Source: News Formal (newsformal.com)

 

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