Live Nation Entertainment puts forward absurd arguments in doj -trial case

Ticketmaster parent company Live Nation Entertainment’s (LYV) lawyer made a ridiculous argument for avoiding a company division into a lawsuit (DOJ) trial. In the hearing over its alleged monopoly at the ticket -selling marketplace, the Live Nation Entertainment Lawyer claimed it would increase the prices of working with rival ticket sellers.

This absurd argument includes the idea that additional ticket sellers would increase prices by offering access to the company’s amphitheaters. American mutual judge Arun Subramanian was skeptical of this claim from the lawyer, who also argued that it is “only a theory” customers would be in a better world where several ticket sellers gained access to the Live Nation Entertainment’s locations.

One of the Live Nation Entertainment’s arguments got traction

In the same trial, the Live Nation argued entertainment -lawyer against forcing the company to allow bands to use their own promoters. The current business model requires bands to use Live Nation Entertainment’s promoters if they appear at one of its venues. In this case, Judge Subramanian agreed with the Live Nation Entertainment. She said she can’t force the business to do business with her rivals as it has the right to deny them.

Live Nation Entertainment also seeks to remove 27 states from the trial against it. It claims that the piggybacking of a federal trial and should not be allowed to do so. It is unclear how this will play out, but the final arguments and redundancies are due on Monday.

Is the LYV share a purchase, sale or team?

When you turn to Wall Street, the analysts’ consensus assessment for the Live Nation Entertainment is strong purchase based on 15 purchase assessments in the last three months. With that comes an average price target of $ 150.43, a high of $ 163 and a low level of $ 133. This represents a potential 8.24% upward for LYV shares.

See more LYV -Al. Analytics Reviews