.-') _      .-') _  
                      ( OO ) )    ( OO ) ) 
          .-----. ,--./ ,--,' ,--./ ,--,'
         '  .--./ |   \ |  |\ |   \ |  |\  
         |  |('-. |    \|  | )|    \|  | ) 
        /_) |OO  )|  .     |/ |  .     |/  
        ||  |`-'| |  |\    |  |  |\    |   
       (_'  '--'\ |  | \   |  |  | \   |
          `-----' `--'  `--'  `--'  `--'
       lite.cnn.com - on gopher - inofficial
       
       
       ARTICLE VIEW: 
       
       WSJ: Justice Department will sue Live Nation for antitrust violations
       
       By Jordan Valinsky, CNN
       
       Updated: 
       
       7:22 AM EDT, Tue April 16, 2024
       
       Source: CNN
       
       The US Department of Justice is preparing to sue the country’s
       largest concert promoter and ticketing website Live Nation in the
       coming weeks for breaking America’s antitrust laws, the , citing
       anonymous sources familiar with the Justice Department’s plans.
       
       The lawsuit against Live Nation Entertainment, the parent company of
       Ticketmaster, will allege the ticketing company used its to harm
       competition for live events, the Journal reported. But the paper
       wasn’t able to uncover specific details of the planned lawsuit.
       
       Shares of Live Nation () dropped nearly 7% in premarket trading
       Tuesday. Live Nation and the Justice Department didn’t respond to
       CNN’s request for comment about the Journal’s report.
       
       Ticketmaster drew the ire of US government officials and fans after a
       system meltdown left millions of people unable to purchase tickets to
       Taylor Swift’s “Eras” tour in 2022.
       
       US lawmakers grilled Live Nation executives at a hearing in January
       2023, which, in a rare event, brought together Democrats and
       Republicans over the company’s industry dominance that critics argue
       is harming rivals, musicians and fans.
       
       Live Nation for “unlawful conduct” in the pop star’s e, with the
       plaintiffs claiming that the ticketing giant violated antitrust laws.
       
       Joe Berchtold, president and CFO of Live Nation, has previously
       defended the company’s practices, saying at the 2023 hearing that
       that Ticketmaster does not set ticket prices, does not determine the
       number of tickets put up for sale and that “in most cases, venues set
       service and ticketing fees,” not Ticketmaster.
       
       He also rejected suggestions that its dominance has allowed for soaring
       fees, citing data from the market intelligence firm Pollstar showing
       that Live Nation controls about 200 out of approximately 4,000 venues
       in the United States, or about 5%.
       
       Rivals have previously spoken out, too: Jack Groetzinger, CEO of
       SeatGeek, alleged that many venue owners “fear losing Live Nation
       concerts if they don’t use Ticketmaster” and its services, and
       argued the company must be broken up.
       
       Live Nation and Ticketmaster , now billing itself as the “largest
       live entertainment company in the world.”
       
   DIR  <- back to index