Justice Department sues to break up Live Nation, parent of Ticketmaster
Justice Department sues to break up Live Nation, parent of Ticketmaster
The lawsuit follows a DOJ probe bolstered by fan complaints following a botched rollout for tickets to Taylor Swift's Eras Tour.
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"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," said Attorney General Merrick Garland in a statement. "The result is that fans pay more in fees, artists have fewer opportunities to play concerts, smaller promoters get squeezed out, and venues have fewer real choices for ticketing services. It is time to break up Live Nation-Ticketmaster."
Oh look, they finally discovered the thing anyone with more than two brain cells to rub together knew 20 years ago.
Stop fucking approving corporate mergers and acquisitions you utter fucking dumbasses.
It didn't matter until a billionaire was pissed and her millions of fans were also pissed.
If it means change, I'll take it!
No hate here, just noting why it is finally changed. I'm largely indifferent to Swift except to say she's talented.
This is not the result of a prolonged investigation. It's the result of shifting precedent from a neoliberal, Chicago School, interpretation to a more "new deal" era interpretation of monopoly laws. For the last 30 years, monopolies could only be broken up if the corporation bought other companies "with the intention of of forming a "monopoly." We literally had to get rid of all the followers of the Chicago School from the government and replace them with people that aren't as friendly to corporations.
Basically, think of companies forming monopolies as drunk driving. If a court of law were to determine drunk driving manslaughter cases like they've been determining monopoly cases, you'd have to prove that the drunk driver left his house with the intention of killing someone inna drunk driving accident. So they'd always be able to say, "well I didn't leave the house thinking I'd kill someone!" And get away of it. That's how companies and the judicial system have been treating monopoly laws.
For the last 30 years, monopolies could only be broken up if the corporation bought other companies "without the intention of of forming a “monopoly.”
With the intention of forming a monopoly?
Fixed, thanks.
It is time to break up Live Nation-Ticketmaster.
The best time to do this was 20 years ago. The second best time is now.