Live Nation Entertainment and Ticketmaster Sued by the United States

The United States Justice Department has, as suspected, sued Live Nation Entertainment, alleging that the company, which owns Ticketmaster, holds a monopoly in the concert market. The lawsuit argues that the concert giant is breaching antitrust laws through its exclusivity contracts, threats to rivals, and leveraging of market domination over artists, resulting in inflated prices and stifled competition. “It is time to break up Live Nation-Ticketmaster,” Merrick Garland, the attorney general, said in a statement.

The Justice Department filed the lawsuit in a New York court this morning (May 23), with the backing of 29 states and the District of Columbia. It cites Live Nation’s multi-tentacled operation, which encompasses concert promotion, tickets, artist management, and an international venue network. Live Nation controls more than half of U.S. concert promotion at major venues, as well as some 80 percent of those venues’ primary ticketing.

Source : Pitchfork