The Justice Department has filed an antitrust lawsuit against Live Nation, accusing the company of monopolizing the live events market. The lawsuit claims that Live Nation’s ownership of key parts of the industry, including Ticketmaster, concert promoters, and venues, has allowed them to engage in anti-competitive practices. The government alleges that Live Nation uses exclusive contracts and retaliation to stifle competition and charge high fees. The Justice Department is seeking to break up Live Nation to increase competition and benefit consumers. Live Nation argues that the lawsuit ignores the economics of the live entertainment industry and won’t result in lower ticket prices.
