Veronica Acosta joined Denver7 in January 2021 as a reporter.
DENVER — The United States Department of Justice filed a lawsuit Thursday to try and breakup Live Nation , the parent company of Ticketmaster , over what it is calling a violation of anti-trust laws.
"These ticketing fees have gone up and up and up, consumers are paying all sorts of fees, both in the primary market also secondary if they try to sell their tickets," the attorney general said. He told Denver7 he and others decided to file their lawsuit in December of 2022 for the same reasons the DOJ is now suing Live Nation.
It is also absurd to claim that Live Nation and Ticketmaster are wielding monopoly power. The defining feature of a monopolist is monopoly profits derived from monopoly pricing. Live Nation in no way fits the profile. Service charges on Ticketmaster are no higher than elsewhere, and frequently lower. And even accounting for sponsorship, an advertising business that helps keep ticket prices down, the company’s overall net profit margin is at the low end of profitable S&P 500 companies.
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