Market Chatter: Live Nation Accused of Freezing Venues Using Rival Ticket Sellers

MT Newswires Live01-24

Live Nation Entertainment should be broken up, as the company blocks venues that don't use its Ticketmaster unit, the US Justice Department told a federal judge presiding over a lawsuit against the company, Bloomberg reported Friday.

The department reportedly argued that venues that used rival ticket sellers lost about five concerts a year, which roughly translates to $1.5 million in revenue.

Live Nation's lawyers denied that it runs an illegal monopoly and requested that the judge toss the lawsuit or decide the case without a trial, which has been scheduled for March 2.

The judge has not ruled on the company's request.

Live Nation Entertainment and the DOJ didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 146.53, Change: +8.39, Percent Change: +6.07

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