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A series of tour cancellations and changes by big-name artists has sparked ... And prior to facing landmark accusations that it is a monopoly, a claim it denies, Live Nation reported its biggest ...
WASHINGTON (Reuters) -The U.S. Justice Department and more than two dozen states on Thursday sued to break up Live Nation, arguing the big concert promoter and its Ticketmaster unit illegally ...
Ticketmaster operated ‘illegal monopoly’ to drive up concert and sports prices, Feds say. The US Department of Justice has sued entertainment company Live Nation, parent company of ...
In 1994, American rock band Pearl Jam filed a complaint with the antitrust division of the U.S. Department of Justice, claiming that Ticketmaster has a "virtually absolute monopoly on the distribution of tickets to concerts" and attempted to book its tour only at venues that did not use Ticketmaster. However, no action was taken on Ticketmaster.
A number of business executives reported the tour's favourable impact on their companies' performance. Local business. The Federal Reserve credited Swift with boosting the US economy at large. According to Bloomberg Economics, the Eras Tour contributed US$4.3 billion to the GDP of the US.
In law, a monopoly is a business entity that has significant market power, that is, the power to charge overly high prices, which is associated with unfair price raises. Although monopolies may be big businesses, size is not a characteristic of a monopoly.
The lawsuit aims to break up the monopoly Ticketmaster and Live Nation have on tickets for concerts, sports and other events at venues around the nation, a news release from Washington Attorney...
Following the widespread criticism of the company's handling of the pre-sale of Taylor Swift's The Eras Tour in November 2022, the Department of Justice (DOJ) began a formal investigation into Live Nation Entertainment on the grounds of monopoly, antitrust law and consumer rights violations.
As part of the agreement, the PGA Tour and LIV agreed to cease their own court antitrust litigation in which LIV sued, and the Tour countersued, on claims the Tour illegally used its...
A monopoly produced through vertical integration is called a vertical monopoly: vertical in a supply chain measures a firm's distance from the final consumers; for example, a firm that sells directly to the consumers has a vertical position of 0, a firm that supplies to this firm has a vertical position of 1, and so on.