Live Nation to face DOJ antitrust lawsuit
The US Justice Department and a group of states plan to sue Live Nation Entertainment, accusing it of antitrust violations related to its Ticketmaster units control of concert ticket sales. That's according to a Bloomberg report. That said, the suit is expected to be filed in the Southern District of New York today. The dispute will seek remedies, including perhaps the breakup of the company. I mean, it's a pretty big deal. People are talking about an AT&T style breakup of a company with potentially, sure. I mean, two companies, in other words, forced, yeah, forced and broken up into. Yeah, lots of it's maybe not even just two pieces back to it. These are two companies that were very powerful in their own industries, allowed to be put together by making promises back in 2010. That they would not punish venues that didn't use them. They've been cited. Several times over the years, there are Justice Department investigations looking into whether that has actually been the case. Yeah. And right. So Live Nation controls concert venues, certain ones, as well as, of course, Ticketmaster having, you know, huge market share and selling them. Right, Right. And you think of Pearl Jam back in the 1990s when they tried to go against Ticketmaster and say we're not going to do this anymore. Didn't work. Even even mega stars can't get around some of these issues. And it's not a popular company. So it states it's it's funny. Feel like it's a good target you talk about. Overreach, regulatory overreach and the Justice Department that may be pushing too far in FTC that may be pushing too far. My guess is this one will get a little less. Sympathy or empathy?