Live Nation Entertainment, a privately owned company founded in 2005 and headquartered in the US, is a global leader in live entertainment and ticketing. Employing approximately 17,320 people, the company operates across several divisions including Ticketmaster, Concerts, Media & Sponsorship, and Artist Nation. Its primary business involves the provision of entertainment services.
The Federal Trade Commission (FTC) and seven states filed lawsuits against Live Nation Entertainment and Ticketmaster on an unspecified Thursday. The FTC accuses Live Nation Entertainment of collaborating with ticket scalpers to resell illegally obtained tickets at inflated prices. This follows long-standing criticism from musicians and concertgoers regarding hidden fees and the prevalence of ticket scalpers on Ticketmaster's platform. Separately, significant options trading volume was observed in Live Nation Entertainment Inc. (LYV) stock, with 25,443 contracts traded, representing approximately 2.5 million underlying shares.
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