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Live Nation Denies DOJ Monopoly Charges, Says Antitrust Suit Won’t Make Tickets Cheaper
Live Nation and Ticketmaster rebuffed the claims that they wield a monopoly over the live music industry, after being hit with a major antitrust suit.
The suit argues that the 2010 merger of the two companies gave Live Nation-Ticketmaster “power over performers, venues, and independent promoters in a ways that harm competition.” They further allege that the merger has stifled competition and innovation, leaving fans in the U.S. with “outdated technology” and higher ticket prices than fans in other countries. As the DOJ notes, Live Nation “owns or controls” over 265 concert venues in North America, including more than 60 of the top amphitheaters in the U.S. “Every year, competition in the industry drives Live Nation to earn lower take rates from both concert promotion and ticketing,” Wall said.
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