Karen Zamora, Christopher Intagliata, Ari Shapiro |
NPRTuesday, January 24, 2023
Live Nation CEO Michael Rapino, left, testifies to a Senate subcommittee on Feb. 24, 2009 over the proposed, and ultimately successful, merger between his company and Ticketmaster.
CQ-Roll Call, Inc via Getty Images
It's been 13 years since the Justice Department allowed a merger between corporate giants Live Nation and Ticketmaster to go through, creating the largest live event company in the country, if not the world. The deal was subject to an agreement with the government that set certain conditions and limitations on the companies' operations, in order to prevent the conglomerate from becoming a monopoly.
"They said in the hearing it was something like 87% of the entire ticketing industry," says Variety senior editor Jem Aswad, "and it's hard to make a case that that's not a monopoly." Aswad joined All Things Considered following a Senate Judiciary Committee hearing Tuesday that focused on whether, after a Taylor Swift ticketing debacle in the fall and years of criticism from artists over anticompetitive practices by the company, a breakup of the two companies should be seriously considered.
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