Business

Live Nation: US Department of Justice to sue TicketMaster owner

Image source, Getty Images

Legend, Live Nation Entertainment has faced criticism from fans, lawmakers, artists and competitors.

  • Author, Peter Hoskins
  • Role, Economic journalist

The US Department of Justice (DOJ) is preparing to take legal action against entertainment giant Live Nation on Thursday, several sources familiar with the matter confirmed to the BBC’s US partner, CBS News.

Prosecutors are expected to challenge the business practices of parent company Ticketmaster, the sources said.

In many cases, when the DOJ sues over competition issues, it seeks to force a company to spin off parts of its business or change the way it operates.

The DOJ declined to comment when contacted by the BBC. The BBC has also requested comment from Live Nation.

The federal government will be joined in its legal challenge by many state attorneys general, said the Washington Post, which first reported the story.

The lawsuit is expected to allege that the company — which puts on concerts, sells tickets and owns venues — has crowded out competitors and weakened customer choice, which helped drive up prices.

The move follows a years-long investigation by the DOJ’s antitrust division. In 2022, CBS News reported that the Justice Department was investigating the company and its Ticketmaster unit.

Live Nation Entertainment was formed from the 2010 merger of US-based events promoter Live Nation and ticket sales and distribution company Ticketmaster.

At the time, the DOJ approved the deal despite concerns that it would create a giant capable of dominating the live entertainment industry.

Live Nation Entertainment is facing growing criticism from fans, lawmakers, artists and competitors.

The company has been accused of having too much influence over live entertainment events in the United States and around the world.

After the DOJ case was announced, Live Nation shares fell more than 6% after hours in New York.

News Source : www.bbc.com
Gn bussni

Sara Adm

Aimant les mots, Sara Smith a commencé à écrire dès son plus jeune âge. En tant qu'éditeur en chef de son journal scolaire, il met en valeur ses compétences en racontant des récits impactants. Smith a ensuite étudié le journalisme à l'université Columbia, où il est diplômé en tête de sa classe. Après avoir étudié au New York Times, Sara décroche un poste de journaliste de nouvelles. Depuis dix ans, il a couvert des événements majeurs tels que les élections présidentielles et les catastrophes naturelles. Il a été acclamé pour sa capacité à créer des récits captivants qui capturent l'expérience humaine.
Back to top button