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US state AGs seek triple damages against Live Nation for concertgoers
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US state AGs seek triple damages against Live Nation for concertgoers
Aug 19, 2024 10:04 AM

NEW YORK, Aug 19 (Reuters) - Attorneys general from

about two dozen U.S. states are seeking treble damages against

Live Nation Entertainment ( LYV ) and its ticket-selling unit,

Ticketmaster, for allegedly monopolizing markets across the live

concert industry in an updated version of a lawsuit originally

filed in May.

The U.S. Justice Department and several states sued three

months ago to break up Live Nation, arguing the concert promoter

and Ticketmaster illegally inflated concert ticket prices and

hurt artists.

Some states had sought damages under state law in the

original lawsuit. By adding claims under the federal

anti-monopoly law, states can seek three times the monetary

damages.

On Monday, ten states joined the lawsuit filed in Manhattan

federal court, and 26 states and the District of Columbia added

claims for treble damages on behalf of their residents.

New York Attorney General Letitia James said in a statement

that her office is seeking damages for what state residents were

overcharged by Live Nation and Ticketmaster.

"It's time for a new era where fans, venues, and artists are

not taken advantage of by big corporations that run the world of

live events," she said.

Indiana, Iowa, Kansas, Louisiana, Mississippi, Nebraska, New

Mexico, South Dakota, Utah and Vermont joined the lawsuit,

boosting the total to 39 states and the District of Columbia.

The lawsuit says Live Nation directly manages more than 400

musical artists and controls around 60% of concert promotions at

major venues. According to the complaint, Live Nation owns or

controls more than 265 concert venues in North America, and

through Ticketmaster controls roughly 80% or more of big venues'

primary ticketing for concerts.

Live Nation has said it will fight the allegations in court.

The company did not immediately respond to a request for comment

on Monday.

The DOJ said in court papers that the "vast scope" of Live

Nation and Ticketmaster allowed them to "insert themselves at

the center and the edges of virtually every aspect of the live

music ecosystem."

In 2010, the Justice Department approved Ticketmaster's

controversial merger with Live Nation, with conditions intended

to stop the combined company from harming competition.

In 2020, a court extended most of the DOJ's oversight of the

merger to 2025 because, the department said, Ticketmaster

retaliated against stadiums and arenas that opted to use other

ticketing companies.

The Justice Department said that since its last case, Live

Nation has engaged in more anticompetitive activity.

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