DOJ files lawsuit seeking to break up Live Nation and Ticketmaster
US Department of Justice (DOJ) officials filed an antitrust lawsuit against concert promoter and ticket seller Live Nation (LYV) on Thursday, making the case that Live Nation created a monopoly through its ownership of Ticketmaster that ultimately resulted in inflated ticket prices. Live Nation has refuted these claims in a statement, saying Ticketmaster's service fees are no higher — if not lower — than on competing ticketing websites.
Citi Managing Director Jason Bazinet focuses on the DOJ's antitrust crackdown in recent years and whether a breakup outcome would ultimately affect concert and event ticket prices.
"This administration is trying to go back to structuralism, that's what's underpinning a lot of the antitrust actions that they're pursuing," Bazinet outlines. "And so that that's difficult, I think, for the judges to understand because they now have 40-plus years of case law that says this is really all about price. And that's why you see Live Nation in their response, focusing on price."
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Видео DOJ files lawsuit seeking to break up Live Nation and Ticketmaster канала Yahoo Finance
Citi Managing Director Jason Bazinet focuses on the DOJ's antitrust crackdown in recent years and whether a breakup outcome would ultimately affect concert and event ticket prices.
"This administration is trying to go back to structuralism, that's what's underpinning a lot of the antitrust actions that they're pursuing," Bazinet outlines. "And so that that's difficult, I think, for the judges to understand because they now have 40-plus years of case law that says this is really all about price. And that's why you see Live Nation in their response, focusing on price."
#youtube #stockmarket #news
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
- Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
Видео DOJ files lawsuit seeking to break up Live Nation and Ticketmaster канала Yahoo Finance
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