The US Department of Justice, in the company of 30 state and district attorneys general, filed a civil antitrust complaint against Live Nation Entertainment and its Ticketmaster subsidiary today, claiming the entertainment giant has suppressed competition by monopolizing the concert market.
"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. It is time to break up Live Nation-Ticketmaster." The government's complaint makes various claims about unlawful behavior designed to eliminate competition and monopolize markets.
That period saw other acquisitions, such as Meta's purchase of Instagram and WhatsApp , that have since prompted second thoughts among regulators.Microsoft and Amazon's AI ambitions spark regulatory rumbleLive Nation, for its part, contends the lawsuit is just anti-business populism, unsupported by antitrust law, and urged on by rivals. The giant insists it is"absurd to claim that Live Nation and Ticketmaster are wielding monopoly power.
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Source: TIME - 🏆 93. / 53 Read more »