The U.S. Department of Justice is planning a Live Nation lawsuit. Here's why the government is looking to sue the concert promoter.
after they wrap up a two-and-a-half-year investigation into the company, according to two high-level sources with knowledge of the matter.will take aim at Ticketmaster’s use of exclusive venue contracts for its ticketing services, the sources say. Last week, Live Nation officials met with attorneys from the Department of Justice to discuss the case, including DOJ Assistant Attorney, but neither the DOJ nor Live Nation commented on the meeting’s details.
The government also bears the burden of proving why its proposed remedies — like forcing Live Nation to sell its stake in Ticketmaster — would benefit consumers. A lawsuit will also likely have a negative impact on the company’s share price and serve as a major distraction for Live Nation when it would otherwise be focused on strategic expansion following its most successful fiscal year ever, with revenue up 36% from the previous year and an impressive $1.8 billion in adjusted net income.
Kanter also lost a major ruling in the DOJ’s antitrust case against Google earlier this year when a judge struck down a request to bar the tech giant from offering up evidence that activities the government had deemed anti-competitive also had positive qualities that improved the product and generated positive consumer feedback.
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