DOJ Moves to Divest Live Nation and Ticketmaster, Calling Them a 'Monopoly'
The U.S. Department of Justice has filed an antitrust lawsuit against Live Nation Entertainment and Ticketmaster, seeking to undo their 2010 merger. The lawsuit alleges that the two companies have created a monopoly over ticket sales, venue access, and concert promotion, harming artists and fans.
The case claims that Live Nation leverages its power over ticketing to strongarm venues into using Ticketmaster and that the company has engaged in anti-competitive practices like pressuring a venue to switch back to Ticketmaster from a competing ticketing service. It also alleges that Live Nation has violated antitrust and monopoly laws.
The lawsuit calls for Live Nation to divest from Ticketmaster and end its ticketing agreement with the Oak View Group along with other anti-competitive practices. It also calls for monetary relief over Live Nation's conduct.
Live Nation has responded to the lawsuit by calling the claims "absurd" and "baseless," stating that the company will "defend against these baseless allegations." They claim that the Justice Department did not want to believe the numbers provided to refute the monopoly claims and that the lawsuit will not help consumers or reduce ticket prices.
This case could take years to be tried and resolved, so don't count on concert ticketing changing anytime soon.