President Donald Trump issued an executive order late Monday directing the Attorney General and the Federal Trade Commission to enforce competition laws in ticketing for the concert and entertainment industry.
Trump said in a statement that the US entertainment industry "has become blighted by unscrupulous middlemen who sit at the intersection between artists and fans and impose egregious fees while providing minimal value."
Trump directed the FTC to work with state officials to "rigorously enforce" the Better Online Tickets Sales Act and to "prevent unfair, deceptive, and anti-competitive conduct" in the ticket reselling market.
The Department of Justice last year sued Live Nation Entertainment (LYV), the parent company of Ticketmaster, for monopolizing the live events business. But the company supported Trump's executive order.
"Scalpers and bots prevent fans from getting tickets at the prices artists set, and we thank President Trump for taking them head-on," the company said in a statement. "We support any meaningful resale reforms."
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