Previous close | 13.00 |
Open | 10.00 |
Bid | 8.60 |
Ask | 9.50 |
Strike | 100.00 |
Expiry date | 2025-01-17 |
Day's range | 10.00 - 10.00 |
Contract range | N/A |
Volume | |
Open interest | 338 |
Prosecutors argue Live Nation used its Ticketmaster ticketing monopoly to suppress competition, the latest in several actions to rein in the power of big corporations across America.
According to Bloomberg reports, US Department of Justice (DOJ) officials could be ready to present an antitrust case against concert promoter and ticket seller Live Nation Entertainment (LYV). Yahoo Finance Reporter Alexandra Canal joins Morning Brief to explain the extent of a possible antitrust lawsuit as ticket prices in the live concert industry have spiked in years following Live Nation's merger with Ticketmaster in 2010. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
The Justice Department filed a sweeping antitrust lawsuit against Ticketmaster and parent company Live Nation Entertainment on Thursday, accusing them of running an illegal monopoly over live events in America — squelching competition and driving up prices for fans. "We allege that Live Nation relies on unlawful, anticompetitive conduct to exercise its monopolistic control over the live events industry in the United States at the cost of fans, artists, smaller promoters, and venue operators,” Attorney General Merrick Garland said in a statement. The Justice Department accuses Live Nation of a slew of practices that allow it to maintain a stronghold over the live music scene, including using long-term contracts to keep venues from choosing rival ticketers, blocking venues from using multiple ticket sellers and threatening venues that they could lose money and fans if they don't choose Ticketmaster.