NEW YORK (WCBS 880) — Members of Congress are pushing the Biden administration to investigate the Live Nation and Ticketmaster merge, calling it a “monopoly.”
In a letter to U.S. Attorney General Merrick Garland and the Federal Trade Commission, representatives including Frank Pallone, Bill Pascrell and Jerry Nadler say the merge has strangled live entertainment ticketing.
“The problem with the ticket market for these live events is not getting better, I mean essentially it's a monopoly,” said Pallone. “They buy all the tickets up and then they're not available for the public in general.”
The letter says the Live Nation and Ticketmaster merger now holds more than 80% of the online ticket sales market, which they consider unfair and deceptive in the industry.
Web Extra: Read the letter to Attorney General Merrick Garland
“Basically, what we're asking both the FTC and the AG to do is to look at this from an anti-trust point of view,” said Pallone.
The congressman has hope that this administration will take action.
“We’re hoping that with a reinvigorated Federal Trade Commission and Department of Justice, that there's an opportunity now to get them involved with this issue,” the congressman said.
In their letter, the congressmen said they hoped that the Biden administration would act before live entertainment makes a nationwide return.
“Although, sadly, the pandemic continues to prevent a return to packed venues, hope is on the horizon that live events will begin to resume,” the letter read. “When live events return in earnest, it is imperative that consumers have access to a market that is transparent, fair, and competitive.”
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