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.