The Justice Department filed a lawsuit Thursday seeking to break up Live Nation, alleging that the parent company of Ticketmaster has hurt consumers and violated antitrust laws by exercising outsize control over the live events industry. The suit, filed in the Southern District of New York and backed by attorneys general for 29 states plus Washington, D.C.
Biden has said that while he is “proud capitalist,” “capitalism without competition isn’t capitalism, it’s exploitation.” Ticketmaster and Live Nation, which merged in 2010, control an estimated 70% of the ticketing and live-event venues market, though the companies have disputed that figure. Several bills have been introduced over the past year to address issues affecting ticket buyers.
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