Justice Department and 30 states seek breakup of Live Nation-Ticketmaster through major antitrust suitThursday seeking the breakup of Ticketmaster owner Live Nation Entertainment over what they allege is the company's unlawful dominance over the concert ticket sales industry.
"For too long, Live Nation and Ticketmaster have unfairly and illegally run the world of live events, abusing their dominance to overcharge fans, bully venues, and limit artists," New York Attorney General Letitia James said in a statement. "When companies like Live Nation control every aspect of an event, it leads to bad blood -- concertgoers and sports fans suffer and are forced to pay more.
The Justice Department's lawsuit accuses LiveNation of seeking to lock out competitors to protect what the company dubs its "flywheel," described in court documents as "a self-reinforcing business model that captures fees and revenue from concert fans and sponsorship, uses that revenue to lock up artists to exclusive promotion deals, and then uses its powerful cache of live content to sign venues into long-term exclusive ticketing deals, thereby starting the cycle all over...
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