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It’s unclear exactly what this antitrust lawsuit is about, or whether or not the government might try to break up the company.
Live Nation Entertainment could face a first lawsuit from the government. One potential factor is ticket fees.
The Justice Department is expected to file an antitrust lawsuit against the concert and Ticketmaster’s parent company.
The Wall Street Journal reports that the lawsuit “. . . alleges that the country’s largest concert organiser has exploited its dominant position in a way that has undermined ticket sales for festival events. “
The two companies merged in 2010 despite concerns about a potential monopoly.
RELATED: The Cure Has Been Taken To Ticketmaster And The Site Will Offer Partial Refunds
While post-pandemic concerts were in full swing, Taylor Swift enthusiasts were reassured.
Hundreds of people have sued the company over its failed distribution of tickets for the Eras Tour, alleging fraud and price-fixing.
“Tickets are so expensive that the average user probably wouldn’t be able to get through anymore,” said one fan.
The collapse caused some to be on the verge of being fined, prompting lawmakers in Washington to pledge to investigate.
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“This is all a definition of monopoly,” said Sen. Amy Klobuchar, D-Minn.
“If you care about the consumer, cap the price,” added Sen. John Kennedy, R-La.
However, Live Nation blamed scalpers and robots posing as human customers.
“We, the fans. We, Mrs. Swift, want to do better,” said Joe Berchtold, president of Live Nation.
RELATED: Live Nation Frontman Goes to Senate Over Taylor Swift Ticket Fiasco
Drake enthusiasts have filed a lawsuit for alleged price-fixing.
Live Nation has insisted that it does not and does not set the price of tickets outside of its service fee.
In the past, he has also reached a settlement with the Justice Department after he was accused of intimidating sites to enter the Ticketmaster platform, fees he has denied.
The company claims that it has “. . . no interest in threatening or retaliating against sites that decide on other ticketing companies. “
RELATED: Consumer Reports: How to Avoid Fine Abuse
It’s unclear exactly what this antitrust lawsuit is about, or whether the government would potentially try to break up the company or not. The Wall Street Journal reports that the trial is expected in the coming weeks.
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