Dana Svendsen’s Post

Ticketmaster and Live Nation are finally "facing the music" as the U.S. Department of Justice and 30 state attorneys general file antitrust charges against them. Learn more about the case and what is at stake in this Perkins Coie LLP Update. #Ticketmaster #LiveNation #Antitrust #AntitrustLaw

Ticketmaster and Live Nation are finally "facing the music" as the U.S. Department of Justice and 30 state attorneys general file antitrust charges against them. To help you better understand the case, Perkins Coie LLP traces the history between the Antitrust Division, Live Nation, Ticketmaster, artists, venues, promoters, and fans across the last three presidential administrations. #Ticketmaster #LiveNation #Antitrust #AntitrustLaw

US Antitrust Law: Sherman Act, 1890 - Section 1 and 2 : § 1 of the Sherman Act states that contracts that limit trade are illegal, whereas § 2 states that every person who attempts to monopolize, or attempts to monopolize, any part of trade, is guilty of a misdemeanor. The US Government, and dozens of states, sued Live Nation Entertainment, a multinational entertainment company, in an antitrust suit Thursday, alleging they monopolized the live entertainment space, harming artists, venues, and concertgoers. The US Government alleges that Live Nation violated § 1 and 2 of the Sherman Act, an 1890 US antitrust law that prescribes the rules of free competition and prohibits unfair monopolies. #competitionlaw #antitrustlaw https://lnkd.in/gt4Pxe4R

Great analysis from Jason Powers here. Another striking development here is the number of monopolization cases that the government has filed and litigated in the last two years. For good or ill, the government is seriously contesting the acquisition and maintenance of market power in allegedly concentrated industries.

Ticketmaster and Live Nation are finally "facing the music" as the U.S. Department of Justice and 30 state attorneys general file antitrust charges against them. To help you better understand the case, this Update traces the history between the Antitrust Division, Live Nation, Ticketmaster, artists, venues, promoters, and fans across the last three presidential administrations. https://bit.ly/4dWS5xP Authors: Shylah Alfonso, Chris Williams, Henry Hauser, and Marisa Ball #Ticketmaster #LiveNation #Antitrust #AntitrustLaw

The problem here is a much larger one that permeates American society. When the marketplaces we build do not adhere to free-market principles they will fail systemically. Similar anticompetitive endeavors are omnipresent in technology innovation, the airline industry, the clothing industry, you name it. Government is responsible for establishing the theory that determines what can be discovered. We must establish a theory that determines the workings of all marketplaces, not just the Ticketmaster one. To go after one is the denial of a bigger governmental responsibility. Read up on an article on the subject I wrote in 2008 here: https://lnkd.in/efS3sXNe

Big moves in the music industry! SoundExchange's $150M lawsuit against SiriusXM shifts to NY. The battle over unpaid royalties heats up, as New York's courts prepare to weigh in. Stay tuned for the next chapter in this legal drama! #MusicRoyalties #SoundExchangeVsSiriusXM

BREAKING: Justice Department Takes Aim at Ticketmaster and Live Nation for Antitrust Violations In a significant move, the U.S. Justice Department and 30 state and district attorneys general have taken action against Live Nation Entertainment, Ticketmaster's parent company, aiming to dismantle its monopoly over concert ticket sales. The lawsuit, filed today (May 23), alleges that Live Nation's dominant position in the live entertainment industry results from illegal practices, including long-term exclusive contracts with venues and retaliatory measures against those who don't comply. These actions, according to the suit, violate antitrust laws and inflate ticket prices, negatively impacting fans, artists, smaller promoters, and venue operators. Attorney General Merrick Garland stated, "Live Nation's monopolistic control over the live events industry in the United States comes at the cost of fans, artists, smaller promoters, and venue operators. This lawsuit seeks to end these unlawful practices and restore competition in the market." Despite these allegations, Live Nation maintains that their practices are lawful and do not breach antitrust regulations. The merger of Ticketmaster and Live Nation in 2010 consolidated Ticketmaster's control over approximately 70% of the U.S. concert ticket market with Live Nation's status as the world's largest concert promoter. This case could reshape the live entertainment landscape, potentially lowering ticket prices and increasing opportunities for smaller players in the industry. The outcome of this lawsuit will have significant implications for all stakeholders involved. What do you think should happen next? Should Live Nation and Ticketmaster be broken up to foster fair competition, or do their current practices serve the industry's best interests? Let me know your thoughts. Mitch Jackson Lawyer | Private Mediator __________ Read more from the Office of Public Affairs here https://lnkd.in/gBn9g-XD and see the actual lawsuit here https://lnkd.in/gA_2CJBw

As the use of music on social media platforms increases, so too do copyright infringement claims. Skadden attorneys discuss the risks of using unlicensed music in social media content and provide valuable takeaways for avoiding costly infringement disputes. Anthony Dreyer | Karen Hoffman Lent | Jordan Feirman #intellectualproperty #litigation #copyright #music #socialmedia

Kirkland-Led Blackstone Bids $1.2B For Music Biz Hipgnosis Private equity firm Blackstone has tabled an enhanced $1.2 billion bid for U.K. music royalties investment company Hipgnosis Song Management, countering an offer from U.S. royalties firm Concord Chorus. The board of Hipgnosis Songs Fund Ltd. said Monday that Blackstone Europe LLP, acting as an adviser to Blackstone Funds, had submitted on Sunday an "improved proposal" to fully buy out the company for $1.24 per share in cash. Hipgnosis, which owns the rights to hit tracks by artists such as Taylor Swift, Ed Sheeran, Justin Bieber and Leonard Cohen, said it has told Blackstone it is willing to recommend the offer to its shareholders "should Blackstone announce a firm intention" to make an offer. Shoosmiths LLP, led by its corporate partners Nick McCarthy and Andrew Millar, is guiding Hipgnosis in the U.K. Meanwhile, Carey Olsen LLP, headed by partner Tony Lane and senior associate James Cooke, is advising the company in Guernsey, an island off the south coast of England offering a low-tax business environment. Kirkland & Ellis LLP, led by partners David Higgins, Aprajita Dhundia and Francesca Storey-Harris, is steering Blackstone, the world's largest alternative asset manager. To read more about this story published exclusively on Law360 UK and learn how Law360, MLex and Caselex report on #mergersandacquisitions please connect with me for an initial consultation. Phone: 07552 882 850 Email: nicholas.mitchell@lexisnexis.co.uk #transactions #buyout #intellectualproperty #mediaandentertainment #taylorswift