Ticketmaster owner Live Nation faces possible breakup as landmark DOJ antitrust trial kicks off
Ticketmaster parent Live Nation faces a potential antitrust reckoning as a landmark case accusing the music giant of running an illegal monopoly over the live music industry kicks off in Manhattan federal court.Jury selection began Monday in the civil case, which is expected to last about six weeks.The Justice Department and a coalition of state attorneys general allege that the 2010 merger between Ticketmaster and Live Nation has stacked the deck against competitors and led to exorbitant sky-high ticket prices for Taylor Swift fans and other countless other concertgoers.Live Nation bigwigs Michael Rapino and Joe Berchtold and each expected to testify during the trial, as are President Trump ally Kid Rock and music industry honchos like Irving Azoff and Louis Messina – the latter of which runs the company that oversees Swift’s ultra-lucrative tours.From the sports world, executives from the Brooklyn Nets and Dallas Cowboys are also expected to testify about their experiences, including claims that Live Nation forces arena operators to use Ticketmaster or risk losing access to its concerts.The case could have major ramifications for the music industry and could even result in a breakup of Live Nation if jurors ultimately side against the company.
The company could also be ordered to pay damages to consumers in various states.The case is moving forward for now despite a weekslong scramble by Live Nation to settle the case before it could go to court.DOJ officials rejected multiple efforts by Live Nation to reach an agreement – though a deal could still be struck during or after the trial, Bloomberg reported.The DOJ will make its arguments during a period of internal upheaval that included the recent exit of antitrust chief Gail Slater, who resigned last month amid reported infighting over how the agency should handle key cases, including Live Nation.Live Nation has said it isn’t responsible for surging ticket prices and has laid the blame in part on online...