"Live Nation Entertainment says it knows many music and sports fans hate the company and blame it and subsidiary Ticketmaster for sky-high ticket prices. But the executive vice-president of the world's largest entertainment company insists the conglomerate is not a monopoly and should not be broken up. [Fans] have frustrations about the live entertainment market and they associate it especially with Ticketmaster because most people buy their tickets from Ticketmaster, Dan Wall told CBC News in a wide-ranging interview at Live Nation's offices in New York."
"On April 15, after a six-week trial on anti-trust allegations, the jury found Ticketmaster and Live Nation liable on multiple counts, including operating an anti-competitive monopoly and unlawfully tying together tour promotions, ticketing and operation of venues. WATCH | Live Nation says it plans to fight monopoly verdict: Live Nation executive vice-president Dan Wall says the U.S. federal jury verdict found the company did not monopolize the whole' primary ticketing market, and is confident' that, in time, courts will also find that it is not a monopoly."
"It's frustrating, Wall said. I think it's pretty clear that the states who brought the case along with the federal government asked for a jury trial because it's a lot easier to win a jury trial than it is a [judge alone] trial in a case like this, particularly against a big corporation. And I'm not happy with the verdict, of course. Wall told CBC News that, if necessary, Live Nation will appeal the verdict arguing the plaintiff Attorneys General for 33 states and Washington, D.C. only presented evidence that Ticketmaster corners 20 per cent of the primary ticketing market."
"I don't call that a monopoly. And I'm actually confident that over time, the courts won't call that a monopoly, he said."
Live Nation Entertainment faces widespread fan anger over high ticket prices, with many blaming Ticketmaster and Live Nation for anti-competitive practices. Dan Wall, executive vice-president, argues the company is not a monopoly and should not be broken up. A U.S. federal jury found Ticketmaster and Live Nation liable on multiple anti-trust counts, including operating an anti-competitive monopoly and unlawfully tying tour promotions, ticketing, and venue operations. Wall says the jury verdict did not establish monopoly power over the whole primary ticketing market and points to evidence that Ticketmaster corners about 20% of that market. He says Live Nation will appeal if needed and expects courts to reach a different conclusion over time.
Read at www.cbc.ca
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