Ticketmaster and its parent company, Live Nation, are asking a U.S. court to throw out the verdict and order a new trial in a landmark anti-trust case where a jury found the company operates an anti-competitive monopoly that’s been overcharging sports and music fans.
This latest legal salvo comes just hours after 33 states alongside the District of Columbia filed formal motions on Thursday calling for the breakup of the world’s largest entertainment conglomerate.
The plaintiff states are asking the U.S. District Court of Southern New York to order compensation for fans, stricter industry controls and the selloff of amphitheatres as well as Ticketmaster, Live Nation’s online box office arm.
When 33 states request a monopoly to be broken up and a jury states there are damages from the monopoly then that should be all there is.
The only thing wrong with the article is that Ticketmaster/Live Nation isn’t a monopoly, it is a Super Monopoly because it owns ALL aspects of the industry … from the advertising to the add on fees when you shop for tickets the food and drink vendors, even the merchandise distribution. As the article said TM is starting to buy arenas and theatres.
They even have a deal with scalpers, so they make a piece of that money, too. That gives them motivation to give access to scalpers so they make money off the initial sale, as well as the scalped sale.
Yea, I saw the special scalper tickets for sale. Such a deranged business model. They must be paying millions to politicians.