The Trustbuster Taking on Ticketmaster

The Journal.

The Wall Street Journal

Daily News, Business News, News

4.2 • 5.3K Ratings

🗓️ 29 May 2024

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

Assistant Attorney General Jonathan Kanter heads the Department of Justice’s Antitrust Division. He speaks with Ryan Knutson about the DOJ’s lawsuit against Live Nation and Ticketmaster, and why the government says the business is an illegal monopoly which the company denies. Further Reading: - Justice Department to Sue Live Nation, Seek Breakup of Concert and Ticketing Giant - Justice Department Sues to Break Up Live Nation-Ticketmaster Further Listening: - The Taylor Swift Ticketmaster Debacle Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	The Department of Justice is taking on Ticketmaster.
0:10.0	The Department of Justice, joined by 29 States and the District of Columbia,
0:15.2	sued Live Nation Entertainment and its wholly owned subsidiary Ticketmaster
0:20.0	for violating the Sherman Antitrust Act.
0:22.2	Last week, the government filed for violating the Sherman Anti-Trust Act.
0:23.0	Last week, the government filed a lawsuit against Ticketmaster's parent company, Live Nation.
0:29.0	We are not here today because Live Nation Ticketmaster's conduct is inconvenient or frustrating.
0:36.4	We are here because as we allege that conduct is anti-competitive and illegal.
0:42.7	The lawsuit is the latest in a string of major antitrust cases brought by the Justice Department,
0:48.4	like against JetBlue.
0:50.4	The Biden administration's Justice Department has filed a lawsuit to stop JetBlue from buying Spirit Airlines.
0:57.0	And Google.
0:58.0	We alleged that Google has used anti-competitive, exclusionary, and unlawful conduct.
1:05.0	And Apple.
1:06.0	They argue that the tech giant has created an illegal monopoly in the smartphone market. Yesterday, I spoke with the head of the DOJ's antitrust division, Jonathan Cantor,
1:20.3	about his department's most recent case against Live Nation.
1:23.0	People love music and people hate monopolies.
1:28.0	And this case is about both.
1:30.0	And Live Nation Ticketmaster has either a monopoly position or significant control over so many different portions of the ecosystem.
1:38.0	And we talked about why the DOJ has become so much more aggressive.
1:42.0	Antitrust is undergoing a revival.
1:45.0	There was a time not too long ago where antitrust was sort of taking the back seat
	...

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