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Biden Admin Moves to Break Up Ticketmaster/Live Nation Merger Amid DOJ Lawsuit, AEG CEO Predicts Victory

May 31, 2024, 02:21 PM

The Biden Administration is taking action to break up the Ticketmaster/Live Nation merger, which has been criticized for failing consumers. Congressman Frank Pallone is working on bipartisan legislation in Congress to increase fairness and transparency for ticketed live events. The Justice Department's antitrust division, led by its head, is focusing on Live Nation and Ticketmaster in a new era of trust-busting, as discussed in a recent podcast. The government's case includes eye-opening emails from Live Nation’s CEO, Michael Rapino, and other high-powered figures in the concert world. S&P Global has lowered its outlook on Live Nation amid the antitrust lawsuit. AEG CEO Jay Marciano has called Live Nation a monopoly and predicts a DOJ victory in the lawsuit. Marciano also highlighted that Ticketmaster’s exclusive deals are the cornerstone of Live Nation’s monopoly.