Ticketmaster owner Live Nation faces possible breakup as landmark DOJ antitrust trial kicks off

Core Viewpoint - Live Nation, the parent company of Ticketmaster, is facing a significant antitrust lawsuit that could reshape the live music industry and potentially lead to the breakup of the company due to allegations of monopolistic practices [1][6]. Group 1: Lawsuit Details - Jury selection for the civil case began, expected to last around six weeks, with the Justice Department and state attorneys general alleging that the 2010 merger between Ticketmaster and Live Nation has harmed competition and resulted in excessively high ticket prices for consumers [2][6]. - Key executives from Live Nation, including Michael Rapino and Joe Berchtold, are expected to testify, along with notable figures from the music and sports industries [3][5]. - The lawsuit could result in significant consequences for Live Nation, including potential damages to consumers and a possible breakup of the company if the jury rules against it [6]. Group 2: Company Defense and Industry Impact - Live Nation has attempted to settle the case prior to court proceedings, but the Justice Department has rejected these efforts, although a settlement could still occur during or after the trial [7]. - The company claims it is not responsible for rising ticket prices, attributing the issue to online ticket scalpers who resell tickets at inflated prices [8][9]. - The merger has led to Ticketmaster controlling a substantial portion of the primary ticket sale market, estimated between 70% to 80%, raising concerns about its market dominance [13].