Fans have compared Taylor Swift's Ticketmaster saga to Pearl Jam's antitrust complaint: 'Finishing the job.'
Taylor Swift, American composer and performer On Thursday, Pearl Jam became a trending topic after Ticketmaster cancelled the public sale of Taylor Swift's "The Eras Tour" due to high demand in pre-sales.
Pearl Jam filed a complaint against Ticketmaster in 1994, alleging anticompetitive and monopolistic behaviour. The Justice Department eventually decided not to file an antitrust lawsuit against the corporation.
Ticketmaster had sold 55 million tickets for an estimated $1.6 billion at the time. The rock band alleged that the firm charged too much for their underage followers' tickets.
The Justice Department stated in a two-sentence statement that it had told the parent firm, Ticketmaster Holdings Group Inc., that "it is concluding its antitrust investigation."
Because no lawsuit was filed, the case was closed at that point. The antitrust division did, however, warn industry participants that the government "will continue to monitor competitive developments in the ticketing industry."
During an appearance on CNBC's "Squawk on the Street," Liberty Media CEO Greg Maffei discussed the ticket debacle.
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