More than two dozen states are suing Live Nation (LYV) for a company break-up as many see the company's ticketing practices monopolistic. Seth Schachner explains why the lawsuit is so significant and the implications it creates for the entertainment industry.
The executive was questioned about past comments boasting of the concert promoter's dominance and profitability.
A Live Nation employee admitted to turning a blind eye when brokers were buying up big blocks of tickets, saying “normally I'd look other way,” according to newly released court documents.
Live Nation CEO Michael Rapino and his team faced a frustrated federal judge in court on Tuesday after his company reached a bombshell settlement with the Justice Department over claims that it illegally dominates the live event industry.
A judge has ordered several states to hold settlement discussions in their antitrust trial against Ticketmaster-owner Live Nation. Those states had joined in a Justice Department (DOJ) antitrust suit against Live Nation, and objected when the department reached a settlement with the company, asking U.S.
After a high-profile antitrust lawsuit, the U.S. Justice Department said Monday that it has tentatively settled with Ticketmaster and its parent company, Live Nation.
Investors are cheering news that stands to boost a ticketing giant today.
It remained possible that some states might continue a trial on their own.
Attorneys general from several states say they haven't abandoned their antitrust case against Live Nation. This came after the news Monday (March 9) that the U.S. Department of Justice had reached a settlement with the company, which owns Ticketmaster.
Live Nation has settled with the Department of Justice in a high-profile antitrust case. The DOJ had sued to split Ticketmaster from Live Nation over monopoly concerns.
The move spares the concerts-and-ticketing giant from the threat of its business being broken up.
G7 finance ministers are reportedly meeting to consider a coordinated oil reserve release to address surging prices from Gulf conflict disruptions. Live Nation (LYV) is nearing a DOJ antitrust settlement likely avoiding a forced Ticketmaster divestiture, with final terms potentially announced soon.