Senators Amy Klobuchar and Mike Lee will lead Senate Judiciary Subcommittee hearing on competition in ticketing industry with witnesses from major agencies.
FOX Business' Maria Bartiromo, Maslansky + Partners' Lee Carter and portfolio manager Adam Johnson discuss Ticketmaster canceling public sale tickets for Taylor Swift’s tour due to surging demand.Ticketmaster saga continues Tuesday as Sens. Amy Klobuchar, D-Minn., and Mike Lee, R-Utah, call upon leading ticketing agency executives as witnesses to the Senate Judiciary Subcommittee on Competition, Antitrust and Consumer Rights.
Senator Amy Klobuchar will call witnesses for Senate Judiciary Committee Hearing on Problems in America’s Ticketing Markets sparked by Taylor Swift's Ticketmaster fiasco. "Last week, the competition problem in ticketing markets was made painfully obvious when Ticketmaster’s website failed hundreds of thousands of fans hoping to purchase concert tickets," Klobuchar said in a statement at the time.
Klobuchar, along with Sens. Richard Blumenthal, D-Conn. and Edward Markey, D-Mass., said in a November letter that the ticket sales and the distribution company should be broken up if any misconduct is uncovered. The hearing will be held before the full Senate Judiciary Committee with Chair Dick Durbin, D-Ill., and incoming Ranking Member Lindsey Graham, R-S.C.More than 3.5 million pre-registered Swifties queued up during the "Verified Fan" pre-sales, but were never able to buy a seat after Ticketmasterin the initial rush. The company later canceled the public sale due to "insufficient remaining ticket inventory.
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