The DoJ has filed a lawsuit against Live Nation/Ticketmaster calling for its breakup.
Given the state of public opinion regarding this company, they are arguably more loathed than cable companies, and the well documented abusive and anti-competitive behavior, this is a no brainer, even if this action just motivates Taylor Swift nation:
The US government today sued Live Nation and its Ticketmaster subsidiary in a complaint that seeks a breakup of the company that dominates the live music and events market.
The US Department of Justice is seeking "structural relief," including a breakup, "to stop the anticompetitive conduct arising from Live Nation's monopoly power." The DOJ complaint asked a federal court to "order the divestiture of, at minimum, Ticketmaster, along with any additional relief as needed to cure any anticompetitive harm."
The District of Columbia and 29 states joined the DOJ in the lawsuit filed in US District Court for the Southern District of New York. "One monopolist serves as the gatekeeper for the delivery of nearly all live music in America today: Live Nation, including its wholly owned subsidiary Ticketmaster," the complaint said.
US Attorney General Merrick Garland said during a press conference that "Live Nation relies on unlawful, anticompetitive conduct to exercise its monopolistic control over the live events industry in the United States... 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 it up," Garland said.………
The lawsuit seeks a judgment declaring that Live Nation and Ticketmaster violated antitrust law in various ways. "Live Nation has acted unlawfully to maintain its monopoly" in the ticketing market, for example, "by entering into long-term exclusive primary ticketing contracts with major concert venues that unreasonably restrain trade in the United States," the lawsuit said.
Live Nation was accused of breaking the law "by tying artists' use of Live Nation owned, controlled, and exclusively booked large amphitheaters to their purchase of promotional services from Live Nation." The US and states also say that Live Nation has illegally maintained its "monopoly in the markets for the provision of concert booking and promotion services to major concert venues and the provision of promotion services to artists performing in major concert venues."
In addition to seeking a breakup of Live Nation and Ticketmaster, the US asked the court to order the "termination of Live Nation's ticketing agreement with Oak View Group." Oak View Group owns or manages over 200 venues and is "uniquely positioned to compete against Live Nation," but "now operates as an agent and a self-described 'pimp' and 'hammer' for Live Nation, often influencing venues and artists for the benefit of Live Nation," the lawsuit said.
Elections have consequences.
In this case, we all benefit.
(Insert random snark dissing Obama here for allowing the Live Nation — Ticketmaster merger in 2010)
0 comments :
Post a Comment