The U.S. Federal Trade Commission (FTC) filed a federal lawsuit in California against Ticketmaster and its parent company Live Nation Entertainment, accusing them of engaging in “illegal” ticket resale tactics.

Seven states, including Florida, Illinois, and Virginia, joined the FTC in filing the lawsuit, highlighting widespread concern over the companies’ practices.

The big picture: The FTC alleges that Ticketmaster and Live Nation “tacitly worked” with scalpers, enabling them to unlawfully purchase large numbers of tickets to boost profits. • The companies are accused of employing a “bait and switch” strategy, manipulating advertised ticket prices to increase the total cost paid by fans. • Ticketmaster is further charged with deliberately allowing brokers to exceed ticket purchase l

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