Dallas business litigation attorney-Eberstein-covers Ticketmaster and Live Nation monopoly.
Dallas, TX (AmericanInjuryNews.com)–The proposed merger of Ticketmaster Entertainment Inc., and Live Nation Inc., has led to the United States Justice Department (DOJ) investigating a possible ticket selling monopoly reports the Associated Press (AP). The Justice Department legal team is claiming federal antitrust lawyers are concerned the merger would create unfair business practices and a monopoly involving event venues and ticket selling for attendance.
Ticketmaster is the nation’s largest concert ticket seller and Live Nation is the world’s largest concert promoter. Live Nation currently owns over 140 venues. The two companies are extremely large with market capital of about $400 million according to the AP. A corporate merger of this size requires the two corporations to submit notices to the Federal Trade Commission (FTC) and the Justice Departments for review of antitrust issues.
Ticketmaster has been under scrutiny by top music artists like Pearl Jam, Bruce Springstein and many other leading performers for their ticket over pricing and service fees. Ticketmaster sold over 141 million tickets in 2007 and holds contracts for concerts, family events, theater, musicals and most major sporting organizations including the NFL, NBA, and NHL. Ticketmaster, standing alone, is viewed by many consumers and famous performers as a monopoly who holds performers and fans at their mercy with “price gouging” practices.
The major corporation sells tickets for over 80% of the major arenas and stadiums in the United States already leaving almost no room for fair competition.
AmericanInjuryNews.com by Dallas Business and Insurance Litigation Lawyer Brian A. Eberstein
Practice areas: Business Litigation Lawsuits
Brian Eberstein. Eberstein & Witherite, LLP. 3100 Monticello Avenue, Suite 500. Dallas, TX 75205 – Toll Free: (888) 407-6669 News Source: http://www.americaninjurynews.com – Press Release Distribution