www.ticketnews.com: U.S. District Judge Kenly Kato issued the ruling on Monday and found that Live Nation may have violated securities laws, noting the suit contains “cogent and compelling” allegations regarding the company’s choice “not to disclose the full picture” of its success or antitrust concerns.
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I’m glad that there’s finally some action being taken against Live Nation. In my personal experience, they have exclusive contracts with so many of the entertainment venues in my area that it’s hard to remember that they’re one company at all. Furthermore, I believe that there has been some amount of evidence that shows that they encourage ticket resellers who jack up the prices by quite a lot because they then get a much bigger cut of that sale. As someone who exists in this world without endless funds at their disposal, this can be really frustrating and unfair when it comes to purchasing tickets, especially because at times it feels like there are never any tickets left to purchase thanks to those resellers. I was disappointed, but not surprised to learn that some venues actually felt that they needed to stay with Ticketmaster out of fear of Ticketmaster and Live Nation directing audiences to other venues and ignoring theirs.
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