All articles tagged with #live nation entertainment
Ticketmaster has confirmed a data breach affecting over 500 million customers, attributed to the hacker group ShinyHunters. The breach involved unauthorized access to a third-party cloud database, and the group is known for targeting major companies to steal and sell personal records.
Ticketmaster has been hacked by the notorious hacker group ShinyHunters, compromising the data of approximately 560 million users. The stolen information includes full names, addresses, phone numbers, email addresses, order history, and partial payment data. The breach comes amid an antitrust lawsuit filed by the U.S. Justice Department against Ticketmaster's parent company, Live Nation Entertainment. Ticketmaster has yet to comment on the breach.
Stocks of Nvidia, Boeing, and Live Nation Entertainment are experiencing significant midday movements.
The Department of Justice is reportedly preparing to file an antitrust lawsuit against Live Nation Entertainment, the parent company of Ticketmaster, over alleged anticompetitive behavior in the concert ticketing market. Critics argue that the 2010 settlement allowing the merger of Ticketmaster and Live Nation should never have been cleared, as it created a vertically integrated monopoly. The lawsuit will need to show that Live Nation Entertainment has engaged in anti-competitive behavior that has stifled competition and hurt consumers by excessively raising prices or offering products of inferior quality. The company has sought to preempt some potential accusations, but the exact contours of the lawsuit and its potential impact on the ticket-buying experience remain to be seen.
U.S. stock futures remained flat after the Dow's sixth consecutive day of losses, with the Dow dropping 0.65% and erasing most of its 2024 gains. Rising yields and escalating tensions in the Middle East contributed to market jitters, reflected in the CBOE Volatility Index reaching its highest level since October. Despite the uncertainty, some market observers believe that the resilient economy and strong labor market could continue to support equities. Additionally, Live Nation Entertainment shares slumped in after-hours trading following reports of a potential antitrust lawsuit by the U.S. Department of Justice.
The US Department of Justice is reportedly preparing to file an antitrust lawsuit against Live Nation Entertainment, particularly focusing on its subsidiary Ticketmaster's handling of the live event ticketing market. This comes after criticism and demands for investigation following issues with Taylor Swift's tour in 2022. The lawsuit is expected to claim that Live Nation has used its dominant position in the market to undermine competition. Shares of Live Nation dropped about 6% in extended trading following the news.