Live Nation CEO Denies Monopoly Power in Court

The head of the world's largest live entertainment company has rejected claims it is a monopoly. Michael Rapino, CEO of Live Nation, defended his company in a major U.S. antitrust trial. The government accuses Live Nation of illegally dominating the live music industry. Rapino argued that the company faces strong competition. He stated that artists and venues have many choices for ticketing and promotion. The trial centers on Live Nation's 2010 merger with Ticketmaster. Prosecutors say this created a single giant that controls live event markets. They claim this harms consumers through higher fees and fewer options. A monopoly exists when one company has total control over a market, stifling competition. The outcome of this case could reshape the concert and ticketing business worldwide. The trial is ongoing.