since our 2010 merger with ticketmaster we have invested over $1 billion in capital to improve the ticketmaster system. much of this was on technologies to eliminate fraud and to get tickets to fans instead of using bots, prime example of which is verified fan service. today's ticketmaster best in class in conducting large on-sales, marketing concerts, preventing frauds and getting tickets into the hands of real fans. i do want to take a moment to address some confusion about what ticketmaster and other primary ticketing platforms do and don't do. primary ticketing companies including ticketmaster do not set ticket prices. we do not decide how many tickets go on sale and when and we do not set service fees. pricing and distribution strategies are determined by the artists and their teams. service fees even if they're called ticketing fees are retained mainly by the venues and their portion of the service fee that ticketmaster retains have been falling steadily over time. this leads to the topic of today's hearing, competition in ticketing markets. we hear people say that the ticketing markets a

at to change live nation ticketmaster's incentive. the current doj has recognized behavioral remedy that runs counter to the company's pursue new enforcement actions to obtain effective structural release. this should be a challenge under section seven of the clayton act or the monopolization case underof the sherman act. separating the ticket and venues would eliminate the incentives to stifle competition and reducing ticketmaster through spinoffs would address the ticketmasas competition in secondary ticketing. protecting consumers artists in into small arrivals from the ticketmaster's harmful conduct will require multiple policy tools including strong antitrust live nation ticketmaster and legislative action. urge enforcers and wall makers to consider three majorhe live nation ticketmaster monopo first, consider standards that enable the agency to challenge the mergers and if is effectively horizontal. standard in section seven of the clayton act is designed to t may enhance the market power and lead to we currently have a structur

today ticketmaster's conduct is inconvenient or frustrating. we are here because as we allege,t conduct is anticompetitive and illegal. her complaint■k makeslear what happens when a monopolist dedicates its resources to entrenching its monoly and insulating itself from competition rr cts and services. we allege nation has illegally monopolized markets across the live concert industry in the united states for far too long. it is time to break it■k up. liveatio ticketmaster has made itself ubiquitous in the live entertainment indtr of primary ticketing at major concert venues. it directly manages more than 400 tists and controls more than 60% of concert promotions across the country. and it owns or controls more than 60% of largemphitheaters in the united states. weeg dominance, live nation relies on unlawful anticompetitive conduct to exercise its mopoindustry ins and over the fans, artists, independent promoters and venues that power the industry. the result is that fans paye in fees, artists have fewer opportunities to play concerts, and venue

. figs after they were released by ticketmaster.— after they were released by ticketmaster., at a bare minimum, you - ticketmaster. as early, at a bare minimum, you were i ticketmaster. as early, at a - bare minimum, you were looking for ticketmaster to be split out from live nation and minimum, you are looking for them to miss zettel —— mooga daily. what would that achieve for people looking for better value tickets?— for people looking for better value tickets? competition. it would reintroduce _ value tickets? competition. it. would reintroduce competition. we live in this fishbowl that is completely dominated by live nation and ticketmaster and they control the entire ecosystem in this fishbowl. and so if we decouple ownership and management events use and the management events use and the management and promoting of artists from the ticketing then they can't use all of the various levels to hold people in this fishbowl. so, for example, if you are an artist and you want to play big venues then you have to play by ticketmaster's rules because they control the venues and

or live nation you have to use ticketmaster's ticketing technology.ishbowl. we are captive in what is known in anti—trust terms as a competitive mode. they build this moat around us and we can't get out, we have no choice. well, this lawsuit will be closely watched across the us and indeed around the world. i'm sure we will be talking to you again. william tong, attorney general for the state of connecticut. they should talking to us on bbc news. thank you so much. around the world and across the uk, this is bbc news. let's look at some other stories making news. a ten—year—old girl who died in a mudslide in north yorkshire has been named as leah harrison from darlington. herfamily have paid tribute to her as a "happy and bubbly" little girl. her school called it a heartbreaking tragedy. the mudslide happened at carlton—in—cleveland wednesday afternoon during a school trip. cabinet secretary simon case told the covid inquiry that downing street was "definitely dysfunctional" during the pandemic. he also said messages criticising borisjohnson and colle

government approved the sale of ticketmaster to live nation in 2010. do you think they'll be able to successfully to break the two up? >> this is an interesting point. this is a suit that has broader bipartisan support if you want to call it that and consumer support as well, especially because of the taylor swift issue you just mentioned. what remains to be seen is just how much of a legal basis there is for breaking this company up. so, on the one hand the whole idea of the sherman antitrust act was to make sure that companies did not get so large that they cornered their respective markets and gave consumers no choice but to use their products. there are right now competing ticket sales platforms, no doubt about it. but ticketmaster is by far the dominant force and the dominant name in the market. but a lot of live nation's argument will be about just how much ticket prices like i point out are a function of their role and their charges and their service fees in that process. as i mentioned, live nation is calling attention to all the other factors

if you are ticketmaster ou this? if you are ticketmaster you want _ this?ant to _ this? if you are ticketmaster you want to avoid _ this? if you are ticketmaster you want to avoid obvious i you want to avoid obvious gating because one thing that has gone really badly for companies in australia in particular when they try to manage this is equivocal to. failing to own up. failing to level with customers about the depth of the severity of this. we also need to annunciate a clear plan, notjust to perhaps protect people from data breaches right now, but to protect people in the future. people will not trust ticketmaster if they think the data will be hacked. they need a clear and coherent strategy to prevent this happening in the future and own up to what went wrong this time.- went wrong this time. mark humphery-jenner, - went wrong this time. mark humphery-jenner, great i went wrong this time. mark humphery-jenner, great to | went wrong this time. mark i humphery-jenner, great to have humphery—jenner, great to have you on the show, thank you. let's turn to th

along with these television providers giving you a front-row seat to announced that it's suing ticketmaster and owner l compans are accused of running illegal monopoly over live events in america, 30 states and district attorneys general are joining in the lawsuit which could dramatically make change to system long frustrated bh artists an fans which cam to e in 2022 when high prices f taylor swift era tour. you a pot first attorney general merrick garland and his remarks >> earlier today the department ost joined by 29 states and the district of columbia sued live nation and ticket master for violating the sherman anti-trust act. in recent years, live nation ticketaster's exorbitant fees and technological failures have beeit fans and artists alike. but we are not here nation ticket master's conduct ison we are here because as we allege, that conductand illegal. our complaint makes clear happens when a monopolist dedicates its resources to entrening its monopoly power and insulating itself from competition ratherr than investing in better products and services. we nation has illegal monopol

that's the parent company of ticketmaster. the suit alleges live nation abused its industry dominance for years to stifle competition at to harm concert-goers this was on full display, apparently back in 2022 when a ticket master glitch blocked millions of fans for buying tickets to taylor swift's eris tour that incident led lawmakers to demand answers from company executives last year at a congressional hearing. it also fueled by administration, so-called war on junk fees n this anti retaliation element. >> back in 2019, the doj brought a lawsuit saying that ticketmaster live nation had actually violated that. so they entered get into what's called a consent decree and some of these tendons were again set forth in that decree well, is there anything taylor swift can't do? right? well, if so, now in 2022, there's a laser focus on what happened during this absolute debacle with the taylor swift tickets. but keep in mind live nation had already been under the microscope for their failures during that 2019 lawsuits. so based on t

so when a fan pays a service fee, they pay at two ticketmaster and ticketmaster takes the money. it may ticketmaster may not think that that is a lot of money, but if you're a fan and you're paying a service fee, it's a lot of money to real people, people who are trying to ford the opportunity to see live music. >> well, how much is an average service fee do you know? >> there are many fees, so you've got service fees sometimes in the 15, $20 range, but you also have credit card fees. you have processing fees, you have venue fees you have dish often the joke is fie fie foe fam there are often half a dozen fees on any given ticket okay. >> this merger, but are they all going to ticketmaster i mean, a credit card fee. is that not going to the credit card company? i don't some of it gets passed on, but as we legend are complaint ticketmaster's the one that takes that fee ticket the masters, a company that is profiting handsomely from those fees, and ticketmaster has a monopoly position shin and competition is what will drive fees down. >> competition is what will allow new business

ticketmaster market share and profit margin. no company other than ticketmaster can deal with this number of tickets. music industry insider bob lefsetz blames high prices on demand and isn't sure this suit will change much. lefsetz claims that artists don't want tickets to include fees, because then they can set a lower price and make ticketmaster look like the bad guy for charging more. these fees don't go into the straight into the pocket of ticketmaster. this is what makes the show happen. so the promoter fee okay, all the things having to do with the building, security, etc. meanwhile, there is legislation working through congress to increase transparency so consumers can see any hidden fees before buying an event ticket. ian cull nbc bay area news. firefighters in the east bay are investigating a deadly overnight fire at a mobile home park. it started just before midnight at the hacienda mobile park on vineyard avenue in pleasanton. when the firefighters got there, the mobile home was engulfed in flames. a man died at the

she never took on ticketmaster. you know why? because she makes a lot of money from ticketmaster.ote her, pay her. the smaller level musicians can't get on concert venues because live nation blocks them. the big names get a lot of money from ticketmaster; so they dominate, they charge a lot, they get the money. i think it's anticompetitive. >> maybe that's because the small people can't get into the venues because they can't sell out an arena. taylor swift can sell out an arena, which is why big business would be in big business with her. >> but if live nation owns the venues, they promote the acts, and they own the ticket seller, why would they have any incentive to put any mid-level artist into even a small venue? there's no competition in live music. >> you're saying it's vertically integrated. >> exactly, it's old rockefeller. >> that's the fascinating aspect because when you go back to the 60, 70s, 80s when antitrust law was previously enforced, 60% market share, that merger historically would not have been allowed. now you have a different situation where you have an existin

is also taking on ticketmaster and live nation. the justice department filing a lawsuit to break them up. but does that mean ticket prices to concerts will go down? good afternoon everyone i'm janelle wang. welcome to nbc bay area news at 4:30. our ian cull is talking to industry insiders and concert goers about this lawsuit. we're also tracking other stories on this thursday, including flames ripping through a mobile home in just seconds. the investigation, now underway in pleasanton after a man was killed in that fire, also in the right place at the right time, a man rescues a toddler from a burning car in contra costa county. our jodi hernandez talks to that man and shares with us this incredible story and budget cuts coming to the south bay. the move the state wants to make that could impact crime victims in santa clara county. but we're going to begin with that new lawsuit aiming to change how concert tickets are sold. and some say it could reshape the live entertainment industry. the department of justice filed an antitrust l

ticketmaster is the number one ticket seller. what the government is arguing is that live nation has used those businesses to reinforce each other and strengthen. for example it would tell a venue that if you want to book a certain artist that live nation promotes, you need to use ticketmaster. or vice versa. you also heard that it has acquired potential competitors and done so to consolidate control in certain markets. it also has issues with these exclusive deals that live nation and ticketmaster strike with venues that lock in a relationship for a long period of time. they believe there should be multiple ticket sellers at venues. they have make claims like this in the past and it will be interest to seek whether the court is open to them. caroline: there has been a response from live nation saying that the doj's action will not solve the issues that they are concerned about and they are calling ticketmaster in monopoly might be a pr win in the short-term but will lose in court. this will be a very high bar to having originall

he addressed live nation's use of exclusive contracts, which require a venue to use ticketmaster for a certain number of years. berchtold saying the company has no issues with any venue that says they want to be non-exclusive. but he insisted many venues prefer using only one ticketing service to streamline their operations. the government's antitrust lawsuit could seek to break up live nation and ticketmaster, which merged back in 2010. rhiannon, andrew. all right, can't wait to see what happens with that. >> andrea, thank you. for the first time, the number of americans who say they use marijuana, mostly every day, is higher than those who consume alcohol, mostly every day. that is according to a new study that looked at daily or near daily use, not overall use. researchers found nearly 18 million people claim to consume pot just about every day. that is compared to just under 15 million who say they drink just as often. >> all right, coming up, where the cicadas are with trillions of the bugs emerging from hibernation, we're putting our own danny new on cicada watch. >> glad i did

, accusing live nation and ticketmaster of monopolizing the concert industry. >> i waited in line for, like, six hours. >> david: you'll remember the taylor swift concert tickets, the fans so upset. tonight, the doj says live nation driving up prices. listing the ways they allegedly do it. >>> tonight, the groups allegedly targeting homes with wifi-jamming equipment to knock out home security systems. authorities breaking up what they're calling burglary tourism. where they were breaking in and how they were doing it. >>> horrific images. the deadly stage collapse during a rally in mexico. at least nine people killed. strong winds tearing down the stage. >>> tonight, young women, breast cancer, and future pregnancy. what a new study reveals. >>> celine dion and her deeply personal battle. what she's revealing tonight. >>> the new hurricane forecast is out tonight. noaa issuing its highest ever early forecast for the upcoming hurricane season, and what it shows. >>> and the remarkable new documentary about the beach boys. from a garage band to music legends, and your first look right h

the doj is suing ticketmaster over a legend trust violations.he cfo and president exclusively right after this break. champion iron offers a rare solution to decarbonize the steel industry. which represents up to 10% of global emissions. the company recently doubled production capacity at its mine in eastern canada. it is now investing to produce one of the world's purest iron ore. enabling green steelmaking without the use of coal. controlling a large portfolio of high purity iron ore resources. champion is considering strategic partnerships to further develop the region. champion iron. >>> we have more news regarding that starwood incident. >> in an sec filing with stockholders, is as it is going to limit redemptions. they had $1.3 billion worth of redemption requests and they were only able to satisfy about $500 million worth of that. while redemption requests are down, they remained above the share purchase plans for the last year and a half. to meet the continued level, real estate property sales. that is according to the report that beginn

at the time, musician maranda hardy shut out for ticketmaster. friend >> it is incredibly frustrating to not be able to have a choice on how you are buying your tickets. >> reporter: that lack of choice is why the justice department, 29 states and the district of columbia are suing to break up liquidation. >> we alleged that live nation controlled the live entertainment industry in the united states because it is breaking the law. >> reporter: live nation and ticketmaster merged in 2010, and today control 60% of concert promotions in the u.s., about 80% of primary ticketing at major venues and a growing chair of ticket resales. the government calls it an illegal monopoly, selling the tickets, controlling the venue, promoting the event and managing the artists. also highlighted what it calls the ticketmaster tax. >> ticketing fees, service fees, convenience fees, platinum fees. price master fees, per order fees. >> reporter: live nation's president, pushing back today on cnbc. >> we fundamentally disagree with all of these allegations. and michael

he addressed live nation's use of exclusive contracts, which require a venue to use ticketmaster for a certain number of years. berchtold saying the company has no issues with any venue that says they want to be non-exclusive. but he insisted many venues prefer using only one ticketing service to streamline their operations. the government's antitrust lawsuit could seek to break up live nation and ticketmaster, which merged back in 2010. rhiannon, andrew. all right, andrea, thank you for that. >> coming up, the new study on adhd and kids, why it's on the rise yet again. >> also ahead, the cost of being a bridesmaid, the shocking debt a bridesmaid, the shocking debt that women are racking up if you're 55 and up, t-mobile has plans built just for you. like two lines of unlimited for just $30 bucks a line. that's a 45% savings versus verizon and at&t! plus, get one of the latest 5g phones free when you add a line. experience it all on america's largest and fastest 5g network. at t-mobile, customers 55 and up can get two lines of unlimited for only $30 bucks a line. switch today! ( ♪ ♪ )

ticketmaster platform. that's according to multiple reports. any hypothetical suit would follow a long trail of regulator and consumer scrutiny ever since livenation bought ticketmaster back in 2010 >> dom, thank you. >>> let's take a final check on the markets very quickly actually, it's going to be up. pay attention closely, especially with the nasdaq, thanks to nvidia that does it for us today. join us back here tomorrow right now, it's time for "squawk on the street. see you later. ♪ >>> good thursday morning, welcome to "squawk on the street," i'm carl quintanilla with jim cramer at post nine of the new york stock exchange. david faber is on assignment nvidia's stellar quarter and guidance will push s&p and nasdaq further into record territory today, all three indexes on track for their best month since november our road map is going to begin with the a.i. boom nvidia with a record quarter and announcing that ten-for-one split. jamie dimon says he can't rule out a hard landing for the united states. >>> and the doj reportedly set to file a

ademÁs, el departamento de justicia demanda a la compaÑÍa matriz de ticketmaster, la acusa de operaregal en los eventos en vivo, precios de 3.000 $ 4.000 $ por ticket asegura que eso ha hecho que los espectadores paguen mÁs dinero por sus boletos. mÁs huracanes que nunca pronostican que esta temporada serÁ extraordinariamente intensa. los meteorÓlogos esperan que este aÑo haya tres huracanes, siete de ellos de gran intensidad. y cÓmo llegaron los chilaquiles a google? hoy el gurÚ del buscador se ilustra con este platillo. asÍ celebran el aniversario de la primera receta. usted cÓmo los prefiere? con salsa verde o con salsa roja? noticias telemundo con julio vaqueiro. este es el momento. una rÁfaga de viento derrumba el escenario en el que el candidato presidencial jorge Álvarez maynez realizaba un acto de campaÑa. la estructura se desplomÓ sobre el pÚblico. siguieron los gritos y la confusiÓn. asÍ luce hoy el lugar despuÉs de los fuertes vientos es la localidad de san pedro, estado de nuevo leÓn. buenas tardes. es una tragedia en tiempos de campaÑa. al -9 personas han muerto y ademÁs

also highlighting what it calls the ticketmaster tax. >> ticketing fees, service fees, convenience feesatinum fees, price master fees, per order fees. >> reporter: live nation's president pushing back today on cnbc. >> we fundamentally disagree with all of these allegations. >> reporter: live nation saying the doj suit ignores everything that is actually responsible for higher ticket prices, from increasing production costs to artist popularity, to 24/7 online ticket scalping that reveals the public's willingness to pay far more than primary ticket costs. but for miranda, the status quo is unacceptable. >> i hope they're held accountable. i hope it leads to change. >> reporter: and christine joins us on set. so taylor swift fans have pointed out that tickets are much cheaper in places like europe. they even say it's cheaper to fly there and see the show than to buy tickets in the u.s. why is that? >> that's right. they limit fees in europe. they also limit how much tickets can be marked up for resale. a quick check of ticket prices for her tour in lisbon this weekend shows tickets selli

data was allegedly stolen from 560 million ticketmaster customers. hackers who call themselves shiny hunters say they stole data from ticketmaster users around the world. the hackers are demanding $500,000 in ransom payments to stop the data from being sold. it's still unclear if anyone in the united states was impacted. the australian government says it's working with ticketmaster to address the issue. the fbi is also helping with this investigation. the irs is expanding its free tax filing program next year. this comes after a successful pilot program more than 140,000 users filed using direct file last year. the agency says it saved more than $5.5 million in tax preparation fees. direct file was made possible by resources from president biden's inflation reduction act. well, it's a move that's drawing criticism from olympic organizers. the international boxing association plans to offer prize money to athletes who medal in paris. last year, olympic organizers stopped recognizing the iba, calling it a rogue league or organization, saying it failed

how hundreds of millions of ticketmaster customers could be at risk. i got help to push back. i got help to push back. lybalvi helps us push back against bipolar 1. once-daily prescription lybalvi is proven to treat manic or mixed episodes of bipolar 1 in adults, to help you push back. elderly patients with dementia have increased risk of death or stroke. do not take lybalvi if you are taking opioids or are in opioid withdrawal. the samidorphan in lybalvi can cause severe opioid withdrawal that can lead to hospitalization or increase risk of life-threatening overdose. get emergency help if you have trouble breathing, become very drowsy with slowed or shallow breathing, feel faint, very dizzy, or confused or have a fever, stiff muscles, rash, swollen glands or problems with your liver, kidneys, heart, or lungs. other serious side effects may include high cholesterol, weight gain, potentially fatal high blood sugar, uncontrolled body movements which may be permanent, dizziness upon standing, or falls. are you ready? ask your doctor about lybalvi. looking for co-pay savings? for

is that ticketmaster's fault?hat ticketmaster actually owns a growing share of the resale market. there had been a big conflict with the golden state warriors where if you bought a ticketmasterer ticket, you had to sell it on ticketmaster. so that would inflate the prices. so that's been part of the debate here. but you look overseas, you can get a ticket at taylor swift in lisbon for $300 for next week. be if you want to go to miami, it's going to be in october for $2,000. >> i want to see taylor swift in paris. less money that it costs to go to taylor swift in indianapolis. >> i'd love to go to lisbon. >> you should go. >> it just shows you two very different models in the government trying to break this company up and get more competition. >> i hope they get in control of the scalpers too because that does drive up the prices. i want to go back to standing in lines the a music store. i want go back to tower records. i want tower records to exist again and for me to get in line to get tickets. >> waiting in line

. >>> and the parent company of ticketmaster may soon be in trouble with the u.s. government. the justice department is ready to file a lawsuit against livenation allegedly tied to the company's dominance of the concert ticket market. for more, download the cbs news app on your cell phone or connected tv. i'm shanelle kaul, cbs news, new york. >>> >>> it's thursday, may 23rd, 2024. this is "cbs news mornings." breaking overnight, a stage collapses at a campaign rally in mexico. multiple people are dead, dozens hurt. >>> and death and destruction here at home. another night of powerful and dangerous storms roar across the nation's south and midsection as communities start to pick up the pieces after tornadoes level entire neighborhoods. >>> good morning, and good to be with you. i'm anne-marie green. breaking overnight, a horrifying scene at a campaign rally in mexico as a stage comes crashing down. [ screams ] at least nine people were killed including a child. more than 60 others were hurt. it happened in the northern mexico state of nuevo leon. people on stage including a lo

this is bloomberg. ♪ >> live nation, ticketmaster's exorbitant fees and failures have been criticizedfans and artists alike, we are not here today because live nation ticketmaster's conduct is inconvenient or frustrating. we are here because as we allege that conduct is anti-competitive and illegal. our complaint makes clear what happens when a monopolist that a case its resources to entrenching its monopoly power and insulating itself from competition. scarlet: the justice department and almost 30 states suing live nation seeking to force the company to sell off ticketmaster or anti-competitive practices. let'being in our bloomberg intelligence analyst. we had gotten wind there was a suit in the making. the stock live nation down ticks .7% on the day. this kicks off what is going to be a years long effort for anything to happen. kevin: we are still parsing our way through the filing the doj issued today. it is a fairly broad case. they're looking at several different areas of the business that are malpractice by live nation's part should the buckets those full into which are the excl

at the time, musician miranda hardy shut out from ticketmaster. ♪ ticketmaster ♪ >> reporter: finallyting a ticket from a friend. > >> it's trincredibly frustratin not having a choice on how you get your tickets. >> reporter: that's why the doj and states are suing live nation. >> it's breaking the law. >> reporter: live nation and ticketmaster merged in 2010 and today control 60% of concert promotions in the u.s., about 80% of primary ticketing at major venues and a growing share of ticket resales. the government calls it an illegal monopoly, selling the tickets, controlling venues and managing the artists. >> ticketing fees, service fees, convenience fees, platinum fees. price master fees. per order fees. >> reporter: live nation's president pushing back on cnbc. >> we fundamentally disagree with all of these allegations. >> reporter: live nation saying the doj suit ignores everything that's actually responsible for higher ticket prices from increasing production costs to artist popularity to 24-7 online ticket scalping. ♪ and that's the price of happiness ♪ >> reporter: but for mir

. >>> up next, live nation lawsuit, how the justice department's plan to break up ticketmaster and its parent company could be a huge win for consumers. >> fans pay more in fees. artists have fewer opportunities to play concerts. smaller promoters get squeezed out. venues have fewer real choices. >>> plus a sea lion hitc a slow network is no network for business. that's why more choose comcast business. and now, we're introducing ultimate speed for business —our fastest plans yet. we're up to 12 times faster than verizon, at&t, and t-mobile. and existing customers could even get up to triple the speeds... at no additional cost. it's ultimate speed for ultimate business. don't miss out on our fastest speed plans yet! switch to comcast business and get started for $49.99 a month. plus, ask how to get up to an $800 prepaid card. call today! my dry eye's made me a burning, stinging, 5-times-a-day,... ...makeup smearing drops user. i want another option that's not another drop. tyrvaya. it's not another drop. it's the first and only nasal spray for dry eye. tyrvaya treats the signs and symp

they're forcing venues to use ticketmaster, and only ticketmaster, a vendor that is very frustratingow low quality it is and, as mentioned earlier in this piece, led to a web site crash, when folks were trying to access their beloved concert and to see taylor swift. i think the conduct speaks for itself. when you apply the law, the federal sherman act, they're violating both sections 1 and section 2, and that's why we brought this lawsuit, because we felt we had no other choice to protect consumers and create a free, competitive marketplace. geoff: to your point about preserving competition in the free market, what do you say to people who might view this as government intervention in the free market? rob bonta: government has a role in creating a free market. it's not an anything goes, no holds barred market where you can use violence and you can use illegal tactics and actions. it is incumbent on the regulators, the referees, if you will, to ensure that the rules are being followed. there are rules to our marketplace. there are things that are illegal and not allowed. and, unfortun

>> now when bid, i mean it is ticketmaster live nation that has basically hired every lobbyist peoplehat are trying to stop this. and its tracks. so i don't believe that at all when i look at this, i look way back this deal should never been approved to begin with, and it's one of the problems with our antitrust laws right now, i want to turn first second to a court that we often look to when there are disputes across circuits and people are wondering about major issues. i'm talking about the supreme court. of course the supreme court is back in the news as you know, senator four, again, the wrong reasons they would say supreme court justice alito flying with soon as the appeal to heaven flag at his beach house, the american flag upside down at his home in virginia. here's what some of your colleagues had to say about this my understanding is wife turned upside down, at least in one case, i think it may have been a spouse. >> he said he didn't have anything to do with it. >> it was his wife. >> so these flags, they are embraced by the far-right, whether they originated with them or no

and only ticketmaster.frustrating to fans who know how low-quality it is and as mentioned earlier, led to a website crash when folks were trying to access their beloved concert to see taylor swift. the conduct speaks for itself. they are violating sections one and sections two and that is why we brought this lawsuit. we had no other choice to protect consumers and create a free and competitive marketplace. geoff: to your point about preserving competition in the free market, what you say to people who might view this as government intervention in the free market? rob: the government has a role in creating a free market. it is not an anything goes, no holds barred market where you can use violence and use illegal tactics and actions. it is incumbent on the regulators, the referees if you will, to ensure that the rules are being followed. there are rules to our marketplace, there are things that are illegal and not allowed. and unfortunately live nation is involved in some of those actions that are unlawful.

doj just sued live nation and ticketmaster.o end what they say is an illegal monopoly. some of the company's most vocal recent customers swifties who have been furious and touched off a congressional hearing after they ended up either empty handed or shelling out more than a thousand dollars per ticket on average for the american leg of taylor swift's tour. >> we haven't used the bathroom. we haven't eaten. we are just waiting to get these tickets. >> this is the biggest disaster i've ever seen on ticketmaster. >> i'm not getting tickets. >> joining me now to discuss nbc's ryan reilly in d.c. so what exactly does the doj say that live nation and ticketmaster are doing that constitutes a monopoly? >> well, you know, merrick garland is a well-known swifty, and i think essentially what he laid out here is that this monopoly as they call it has spelled trouble, trouble, trouble for consumers. he essentially said that the prices have really gone up and this is unfair to people who are trying to buy tickets, and that's why it's impor

they say that's why ticketmaster's market share has declined since 2010. facts that they have set out, and that's precisely why we are in litigation, and so at this point, we will make our case to the court, and it will ultimately be up to the courts to decide whether, in fact, ticketmaster and livenation have monopoly power >> final question for you, and i think it's a question that a lot of ceos are thinking about today, which is, this was originally a transaction which was approved and allowed to go through over a decade ago now, about 14 years ago, and so there's a question about sort of reaching back, if you will how do you think that the business community should think about that >> so, to clarify, this case is a section 2 of the sherman act monopolization lawsuit the merger that you're talking about happened, in fact, in 2010, and that was addressed under section 7 of the clayton act. if you read the complaint that we filed alongside 30 attorneys general yesterday, you will see that it is a more sweeping and more expansive accounting of the differen

we start with the music industry because live nation — the owner of ticketmaster — is being sued by thearmed the interests of artists and fans. live nation has hit back — calling the allegations baseless — saying the doj will lose in court because it ignores the basic economics of live entertainment. from new york, erin delmore reports.

a major lawsuit at any moment against ticketmaster's owner live nation, accusing the concert giant of operating a monopoly. the government alleges live nation of users it's industry dominance for years to stifle competition and rip off fans that issue was on full display in 2022 when ticketmaster glitches blocked millions from purchasing tickets, you remember this to taylor swift's erez tour. as swift might say, karma is a congressional hearing that fiasco lead lawmakers to grow company executive he lives up on capitol hill last year and cnn senior crime and justice reporter, katelyn polantz joins me now, and kaitlyn, that's further evidence that i don't write all the scripts when they work in the taylor swift pun, there. but this is a big deal and it affects millions of americans who are just really frustrated with buying concert tickets these days and other live events yeah, the dominant provider of tickets for concerts across the united states, live nation in their subsidiary ticketmaster, they are not out of the woods, jim, in this situation, they are expecting their is a very lar

the doj is accusing the owner of ticketmaster of. and predators preying on children online. the fbi investigation that is working to uncover who is behind a group that's targeting kids and who is the most v nerabl hey! it's your dry skin. every day we lose ceramides i need to seal in moisture. cerave delivers three essential ceramides to help restore my barrier, so i can lock in moisture, feel hydrated, and look healthy. cerave facial moisturizing lotions. the parent company of ticketmaster, accusing them of illegally maintaining a monopoly in the live entertainment industry. the antitrust lawsuit argues that tours promoted by the company were more likely to play venues where ticketmaster was the exclusive ticket service . well, that helped the company maintain a monopoly, raising prices and fees for consumers and hurting the competition. several dozen states, including california, have filed with the doj asking the court to break up that company. >> recent years live nation, ticketmaster exorbitant fees and technological failures have been criticized by fans and artists ali

ticketmaster forced to face the mu music. melissa lee, coming to you live from studio b at the nasdaq on the desk tonight -- tim seymour, karen finerman, steve grasso and julie biel. >>> the do s&p 500 and nasdaq pulling back after hitting record levels in the session that even as nvidia soared more than 9% on the back of an earnings report that few could find fault with. so, why weren't the big numbers from the third biggest stock in the u.s. enough to boost the rest of the market maybe ironically, even stronger numbers on the economy a better than expected read on pmi sent probabilities of september rate cut from nearly 58% yesterday to even money right now. are markets now all about the fed once again tim, what happened today >> i think the fed is the most important dynamic in the market, but i do think you have a case here where that pmi, that composite pmi, the services component, 54.8, last number was around 51, we're starting to see the services weaken a bit. this was a very solid number for, as we all know, the bigges

ticketmaster attorney general merrick garland said thursday the doj and 29 states plus dc are suing ticketmaster and its parent company live nation. >> alleging they have an illegal monopoly over live events. it controls at least 80% of primary ticketing at major concert venues. the lawsuit says the company has its hand in nearly every part of the industry and blocks venues from using multiple ticket sellers. the result is that fans paying more in fees. artists have fewer opportunities to play concerts, smaller promoters, get squeezed out and venues have fewer real choices for ticketing services. a post on live nation's website calls the allegations baseless and says they ignore the real factors behind higher ticket prices. the company said in a statement, quote, the doj is lawsuit won't solve the issues fans care about relating to ticket prices, service fees and access to in-demand shows. now, according to the doj, ticketmaster owns or controls more than 265 concert venues in north america. >> and dozens of amphitheaters in washington. i'm maddie beer-temple. >> all right. thank you for that br

ticketmaster attorney general merrick garland said thursday the doj and 29 states plus dc are suing ticketmastercompany live nation. >> alleging they have an illegal monopoly over live events. it controls at least 80% of primary ticketing at major concert venues. the lawsuit says the company has its hand in nearly every part of the industry and blocks venues from using multiple ticket sellers. the result is that fans paying more in fees. artists have fewer opportunities to play concerts, smaller promoters, get squeezed out and venues have fewer real choices for ticketing services. a post on live nation's website calls the allegations baseless and says they ignore the real factors behind higher ticket prices. the company said in a statement, quote, the doj is lawsuit won't solve the issues fans care about relating to ticket prices, service fees and access to in-demand shows. now, according to the doj, ticketmaster owns or controls more than 265 concert venues in north america. >> and dozens of amphitheaters in washington. i'm maddie beer-temple. >> all right. maddie, thank you very much. >> well,

they add that ticketmaster's market share has declined since 2010.e's been bad blood between ticketmaster and concert goers for years. during the first days of sales for taylor sieve's eras tour two years ago the web site crashed fans were so outraged it led to a congressional hearing. by the way live nation's stock fell more than seven three-quarters % in trading there. >> bret: i thought what you did with bad blood. >> i could have done more, not out of the woods. >> bret: another story, bad day for boeing stock today, too. what happened again today. >> it was. they were drag on the dow today. shares were down more than 7.5%. and what's happening is, boeing is bleeding more cash than it initially expected it would. burned through almost $4 billion in the first quarter of the year. the plane maker says it's on track to take a similar or worse hit this quarter. the company is dealing with supply change challenges and also had to slow down production trying to root out safety problems. you remember the door plug blowdown in january and this week the f

that ended up, live nation and ticketmaster a big mistake. >> yeah.t worry. we're not going to use our monopolistic forces to punish venues who don't use us or cause ticket prices to go up has that been the case >> a lot of this is confidential but reporting suggesting and a lot of anecdotal evidence used power over ticketing and booking to control the industry and they have over 70%'s 80% venues ever tried to buy something outside of ticketmaster? >> after the second market do it, sell it back through. no more evidence that the idea over the last year people traveling to europe to go see taylor swift because you can pay for plane tickets, hotel cheaper than tickets here in the united states in fact, that happened to, a family just did this onset back here, but his family just did the same thing it was cheaper to go to stockholm. >> and areas where americans are paying more for no particularly great reason we pay more fees than any other country. ticket prices higher a monopoly found a million different ways to do this and it's overdue. the kind of th

. >> now, the justice department is suing the owner of ticketmaster and the mooc, anthony scaramucci joins us. he wants to be your life coach? >> 6:00 a.m. here in washington here's a live look at capitol hill on this thursday morning. good morning, everyone. i'm kasie hunt. it's wonderful to be with you another provocative, controversial flags seen flying outside of home owned by supreme court justice samuel alito, the new york times public this photo of the flag outside alito's new jersey beach home last summer. the flag which features a pine tree and the phrase, appeal to heaven, dates back to the revolutionary war. but today as the times wrote, the flag has become quote, a symbol of support for former president donald j. trump for a religious strand of the stop the steal campaign, and for a push to remake american government in christian terms this is video from the january 6 riot on the right of the screen amid the mob, forcing its way into the capitol to try to prevent the peaceful transfer of power you see the same pine tree flag flying just last week, the times published a ph

the company, popularly known for selling tickets through ticketmaster, says the lawsuit will not solveues fans care about. speaking during a cnbc interview, the chief financial officer said he fundamentally disagrees with the lawsuit, saying live nation does not see enough profitability to sustain a monopoly. the company has released an update on its website to break down the lawsuit, saying that the doj "ignores everything responsible for higher ticket prices, from rising production costs to artist popularity to 24/7 online ticket scalping that illustrates the public's willingness to pay far more for ticket prices." here is what attorney general merrick garland had to say. >> in recent years, live nation's exorbitant fees and technological failures have been criticized by fans and others alike. but we are not here today because live nation''s conduct is inconvenient or frustrating. we are here because that conduct is anticompetitive and illegal. sumi: our business correspondent has more from new york. >> this is something the government signaled they would take part in an even somethi

regulators are looking to force a breakup and force ticketmaster's control of ticket sales.nd will hold a news conference on this in just a few moments but as we count down to that, let's get some insight from kevin of bloomberg intelligence. walk us through what you are expecting. i read your analysis and it seems like this is something that could take years. kevin: very much so. this is based on past president. in the case that live nation were to lose, they would appeal. this will take a long time and we are getting details in real time but the case is fairly broad. the doj is arguing that there has been malpractice related to either the exclusivity that live nation is imposing. the other side of the case they are looking at is if they are illegally tying in ticketmaster or any product or service to other parts of their business. katie: speaking of details, live nation issuing a statement on the lawsuit saying that the suit igs basic economics of entertainment and that the suit will not reduce ticket prices or service fees. the 1.4% net profit is not monopoly power. you t

now, the government's antitrust lawsuit could seek to break up live nation and ticketmaster. 2010. back to you at the desk, kumasi. >> thanks, amanda. this morning, new concerns about the bird flu. another rare human case has been confirmed after an outbreak in dairy cattle authorities say a michigan farm worker has recovered from mild symptoms. in march, a farm worker in texas was diagnosed with the first human case of bird flu tied to dairy cows. both patients worked with cows and both reported eye infections, with bird flu outbreaks in cattle now reported in nine states in dozens of herds, experts say the infection is likely even more widespread. >> we need to maintain testing, especially in our farm worker community, because that prolonged exposure to cattle does mean it's possible we may see additional incidental cases. >> experts say the more widespread the virus becomes, the more chance it has to mutate and increase the risk to humans. >> and now it's your morning money report. big layoffs may be coming to tiktok. a majority of the 1000 employees in the company's user