From today’s ABC News:
The Justice Department and dozens of state attorneys general filed a major antitrust lawsuit Thursday seeking the breakup of Ticketmaster owner Live Nation Entertainment over what they allege is the company’s unlawful dominance over the concert ticket sales industry.
The lawsuit, filed by the DOJ and 30 state and district attorneys general in federal court in the Southern District of New York, accuses the company of creating a monopoly over the live entertainment market that has harmed music fans, artists and promoters around the United States through higher prices and frustrating consumer experiences.
“The result is that fans pay more in fees, artists have fewer opportunities to play concerts, smaller promoters get squeezed out, and venues have fewer real choices for ticketing services,” Attorney General Merrick Garland said in a statement announcing the lawsuit. “It is time to break up Live Nation.”
“For too long, Live Nation and Ticketmaster have unfairly and illegally run the world of live events, abusing their dominance to overcharge fans, bully venues, and limit artists,” New York Attorney General Letitia James said in a statement. “When companies like Live Nation control every aspect of an event, it leads to bad blood — concertgoers and sports fans suffer and are forced to pay more. Everybody agrees, Live Nation and Ticketmaster are the problem and it’s time for a new era. Today, we are taking this important action to protect consumers and force big companies to stop abusing their influence and get in formation.”
The sweeping lawsuit is a product of a more than two-year-long investigation into the company that has come under growing public scrutiny since late 2022, following a fiasco over presales for Taylor Swift’s Eras Tour.
Read the complete story here.