New Post: 10 U.S. States Join DOJ Antitrust Lawsuit Against Live Nation - https://lnkd.in/gqeQpjNm -
The U.S. Department of Justice has refiled its historic anti-trust lawsuit against concert promoter Live Nation, with 10 additional states joining the effort to break up the company more than a decade after its 2010 merger with Ticketmaster.
The Attorneys General for Indiana, Iowa, Kansas, Louisiana, Mississippi, Nebraska, New Mexico, South Dakota, Utah and Vermont were added to an amended complaint filed in New York’s Southern District on Monday (Aug. 19), bringing the total number of states participating in the lawsuit to 40 total, along with the District of Columbia.
Related
In the Live Nation Antitrust Case, Who Will Win & Who Will Lose?
06/26/2024
“There is nothing new in the Amended Complaint,” a statement from Live Nation reads. “The lawsuit still won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows. We look forward to sharing more facts as the case progresses.”
The amended lawsuit re-alleges that Live Nation and Ticketmaster acted like a monopoly and violated Sections 1 and 2 of the Sherman Act by using illegal tactics to expand its concert promotion business and management of amphitheaters. The new complaint also includes new details about how Live Nation allegedly expanded its ticketing business after it merged with Ticketmaster in 2009, including information about the company’s controversial relationship with arena developer and operator Oak View Group (OVG). Founded in 2015 by Tim Leiweke and music manager Irving Azoff, Oak View Group manages nearly 200 venues and relies on Live Nation to bring major tours to its concert facilities, which includes such top U.S. venues as Climate Pledge Arena in Seattle, the Moody Center in Austin and UBS Arena in Belmont, N.Y.
As the building manager’s main representative, OVG is supposed to manage the competitive process for selecting a venue’s ticketing contract, but the complaint alleges that OVG is obligated to “advocate for exclusive agreements with Ticketmaster for more than 100 venues Oak View Group manages” — which the lawsuit claims essentially “locks those venues into long-term exclusive Ticketmaster agreements.” The agreement, the government argues, unfairly prevents third-party competitors from entering the ticketing space while compensating OVG with a substantial “incentive payment” from Live Nation plus significant annual payments.
In fairness, OVG’s competitor AEG — which also competes with Live Nation for concert promotion and ticketing — also accepted payments for the buildings i
Co-Founder @ Virtual Workforce Agency | MBA in International Business
1moSandro Hamzić