'This is all a definition of monopoly': Anti-trust lawsuit expected against Live Nation
It's unclear what this antitrust lawsuit could seek, whether the government would potentially try to break up the company or not.
Live Nation Entertainment could face a major lawsuit from the government. One potential issue is their ticket fees.
The justice department is expected to file an anti-trust lawsuit against the concert giant and parent company of Ticketmaster.
The Wall Street Journal reports the suit will "...allege the nation's biggest concert promoter has leveraged its dominance in a way that undermined competition for ticketing live events."
The two companies merged in 2010 despite concerns about a potential monopoly.
RELATED: The Cure took on Ticketmaster and the site will offer partial refunds
As post-pandemic concerts boomed, Taylor Swift fans had bad blood.
Hundreds took the company to court for its botched rollout for tickets to the Eras Tour, claiming fraud and price-fixing.
"The tickets are so overpriced that the average person isn't going to be able to go anymore," said one fan.
The meltdown made it nearly impossible for some to get tickets, prompting lawmakers in Washington to vow to investigate.
RELATED: Bruce Springsteen fans are upset about his concert ticket prices
"This is all a definition of monopoly," said Sen. Amy Klobuchar, (D) Minnesota.
"If you care about the consumer, cap the price," added Sen. John Kennedy, (R) Louisiana.
However, Live Nation blamed scalpers and bots pretending to be human customers.
"We apologize to the fans. We apologize to Ms. Swift. We need to do better," said Joe Berchtold, the president of Live Nation.
RELATED: Head of Live Nation faces Senate about Taylor Swift ticket fiasco
Drake fans also sued over alleged price-fixing.
Live Nation has insisted it does not set or control ticket prices outside of its service fee.
It also previously reached an agreement with the Justice Department after being accused of bullying venues into using the Ticketmaster platform - which are accusations it denied.
The company says it has "...no interest in threatening or retaliating against venues that consider or choose other ticketing companies."
RELATED: Consumer Reports: How to avoid ticket price gouging
It's unclear what this antitrust lawsuit could seek, whether the government would potentially try to break up the company or not. The Wall Street Journal reports the lawsuit is expected in the coming weeks.
