Live Nation, Ticketmaster Sued By DOJ

[Surreal]

Live Nation ticket buyers sue in wake of US Justice Department case

Live Nation and its Ticketmaster unit have been hit with the first in a likely wave of new consumer antitrust lawsuits after the U.S. government and states sued to break up the two companies on Thursday. The first consumer class-action lawsuit to piggyback on the government cases was filed...

finance.yahoo.com

 

[jdubnyce]

Literal monopoly
Surprised it took this long

 

[straightcash]

The FTC has allowed corporations and conglomerates to acquire or merge into fewer and fewer options consistently since the 1990s.

 

[Knockout_LR_Freshmart]

Send “Platinum Seats” to the bushes

 

[Harry B]

That like 34 year old broad that Biden hired to boost consumers is a real shark

shyt like labor and consumer politics is what his administration been focusing on but it easily goes unnoticed cause the benefits are complex and boring

 

[LevelUp]

 

[Piff Perkins]

Was gonna post this. They own multiple venues and have fukked the touring industry up. They also keep hiring these lame ass private equity creeps who don’t know shyt about music or tours. Look up what’s happening to the Black Keys right now. They were booked for a massive arena tour this summer. It just got cancelled due to low ticket sales but anyone with a brain knew that band can’t do an arena tour. But someone with a Yale MBA decided to try because it would make more money than the 3-10k capacity venues that band can actually do.

 

[Sir Richard Spirit]

Live Nation, which owns Ticketmaster, to pay roughly $200 million in damages to participating states.
The centerpiece of the agreement is expected to be structural changes to Live Nation’s ticketing business. Under the settlement, Ticketmaster will be required to open parts of its platform to rival ticketing companies, allowing third-party sellers such as SeatGeek or Eventbrite to list tickets directly through Ticketmaster’s technology.

The deal also places new limits on the long-term exclusivity contracts Ticketmaster has historically used to lock venues into its system, cutting those agreements down to four years and allowing venues to allocate a portion of their tickets to competing platforms.


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