Louisiana Senator Is Heated Over Concert Ticket Prices
SHREVEPORT, LA - A monster legal fight over concert tickets is brewing. There is a potential legal challenge for the country's largest ticket distribution company.
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This legal skirmish stems from suspected mishandling of concerts for the top selling artists in the world. This action focuses on Live Nation the parent company of Ticketmaster. The Justice Department is likely to file an antitrust suit against Live Nation Entertainment.
The Wall Street Journal reports the suit will allege the nation's biggest concert promoter has leveraged its dominance in a way that undermined competition for selling tickets for big concert event.
Is This Massive Company a Monopoly?
Live Nation and Ticketmaster merged back in 2010 despite widespread concerns this would create a possible monopoly that would hurt consumers. You might recall Taylor Swift fans took the company to court for its horrible goof up in rolling out tickets to her most recent tour. Fans claimed fraud and price gouging. This big debacle made it almost impossible for fans to get tickets.
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Members of Congress Get Involved
Louisiana Senator John Kennedy says "If you care about the consumer, cap the price."
Other lawmakers in Washington vowed to investigate. Live Nation blames scalpers and bots pretending to be human customers. The company apologized to Taylor Swift and fans over this mess.
Leaders from Live Nation insists they do "not set or control ticket prices outside of the service fee that is charged."
An Earlier Agreement Was Reached with Feds
The company previously reached an agreement with the Justice Department after being accused of bullying venues into using Ticketmaster to sell tickets to shows. The company denies that allegation saying they have "no interest in threatening or retaliating against venues choose other ticketing companies."
The Wall Street Journal reports the lawsuit is expected in the coming weeks, but there is no indication yet if a settlement could involve breaking up the company.
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