The United States Justice Department is getting ready to file a lawsuit against Live Nation and Ticketmaster for violating antitrust laws by using their power to take advantage of the competition. That’s according to The Wall Street Journal. WRCR market analyst Ken Mahoney of Mahoney Asset Management in Chestnut Ridge says the way the current system of ticket purchasing is structured, there’s too much room for abuse…
Live Nation and Ticketmaster merged 12 years ago. The lawsuit could be unveiled in the next few weeks. Live Nation and Ticketmaster are often viewed as a monopoly within the ticket industry, resulting in high ticket prices and fees as well as poor customer service.