Justice Department Said To Investigate Ticketmaster's Parent Company

The Justice Department has opened an antitrust investigation into the owner of Ticketmaster, whose sale of Taylor Swift concert tickets descended into chaos this week, The New York Times reported Friday, citing sources. The investigation is focused on whether Live Nation Entertainment has abused its power over the multibillion-dollar live music industry. From the report: That power has been in the spotlight after Ticketmaster's systems crashed while Ms. Swift fans were trying to buy tickets in a presale for her upcoming tour, but the investigation predates the botched sale, the people said. Staff members at the agency's antitrust division have in recent months contacted music venues and players in the ticket market, asking about Live Nation's practices and the wider dynamics of the industry, said the people, who spoke on condition of anonymity because the investigation is sensitive. The inquiry appears to be broad, looking at whether the company maintains a monopoly over the industry, said one of the people. Officials in the Biden administration have spent the last two years trying to push the boundaries of antitrust law. The Justice Department has mounted several challenges to major mergers, successfully convincing a judge to block Penguin Random House's purchase of Simon & Schuster but losing some other cases. The Federal Trade Commission has sued to block Meta, Facebook's parent company, from acquiring a small virtual reality start-up.Read more of this story at Slashdot.
Click here to read full news..