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US DOJ COULD SEEK BREAK UP OF LIVE NATION, BLOOMBERG NEWS REPORTS

By Reuters
May 23, 20249:14 AM GMT+8Updated 2 hours ago
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The logo and trading information for Live Nation Entertainment is displayed on a
screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May
3, 2019. REUTERS/Brendan McDermid/File Photo Purchase Licensing RightsNew Tab,
opens new tab
May 22 (Reuters) - The U.S. Department of Justice and a group of states will sue
Live Nation Entertainment (LYV.N)New Tab, opens new tab, potentially seeking a
break up, Bloomberg News reported on Wednesday, outlining the next step in an
antitrust campaign against the Ticketmaster owner.
The Justice Department has been investigating Ticketmaster's domination of
concert ticket sales, sources have previously told Reuters. Concert fans and
politicians for years have called for a re-examination of the Live
Nation-Ticketmaster merger in 2010, especially after the botched sale of tickets
to a Taylor Swift concert tour.
Advertisement · Scroll to continue

Bloomberg said the lawsuit is expected to be filed in the Southern District of
New York on Thursday.
The legal action underscores the aggressive approach President Joe Biden's
antitrust enforcers have adopted as they seek to create more competition in a
wide range of industries, from Big Tech to healthcare to groceries. It also
shows the power and anger of concert-goers and Swifties, the nickname for
Swift's fans.
Advertisement · Scroll to continue

Live Nation came under fire in 2022 after Ticketmaster mishandled the sale of
tickets to Swift's 2023 tour. Ticketmaster was overwhelmed, canceling some plans
for sales and sending would-be buyers into online queues for as much as eight
hours.
Some Swifties said they were repeatedly dropped by Ticketmaster as they waited
to buy. The service complained it was the target of bots and scalpers, but
concert-goers also complained of high prices and poor service.

U.S. senators in January 2023, in a hearing called after the ticket sales
fiasco, slammed Live Nation's lack of transparency and inability to block bot
purchases of tickets.
In the lawsuit to be filed on Thursday, the DOJ's options range from requiring
the company to stop illegal behavior, a common request, to asking a court to
break it up, which is rare.
The lawsuit comes after the Justice Department in 2010 approved Ticketmaster's
controversial merger with Live Nation, with conditions intended to stop the
combined company from harming competition.

In 2020, a court extended most of its oversight of the merger to 2025 because,
the department said, Ticketmaster retaliated against stadiums and arenas that
opted to use other ticketing companies.
Live Nation did not immediately respond to a request for comment. It has said in
the past that it was confident its business practices were legal, and that the
probe had been prompted by complaints from rivals, including re-sellers.

Live Nation's shares fell 7% in after hours trade.
The Department of Justice did not immediately respond to Reuters' request for
comment.

Get weekly news and analysis on the U.S. elections and how it matters to the
world with the newsletter On the Campaign Trail. Sign up here.

Reporting by Niket Nishant in Bengaluru and Peter Henderson in Oakland,
California; Additional reporting by Chris Sanders in Washington; Editing by Alan
Barona, Chris Reese and Tom Hogue

Our Standards: The Thomson Reuters Trust Principles.New Tab, opens new tab

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