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Technology Stocks : Ticketmaster-Citysearch (TMCS)
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To: R Hamilton who wrote (306)1/19/1999 11:08:00 PM
From: Stockwizard  Read Replies (1) of 803
 
Without comment Tuesday, the Supreme Court refused to revive
a lawsuit brought by concertgoers accusing Ticketmaster of
monopolizing the ticket sales business for big-name
performances and of using its advantage to charge sales and
handling fees as high as $20 per ticket.
Ticketmaster has exclusive contracts with almost every major
concert promoter and with concert venues representing 63
percent of the nation's concert hall seats, the lawsuit said.
The lawsuit accused Ticketmaster of engaging in price fixing with
those promoters and concert venues, and of boycotting the rock
band Pearl Jam, which had a running feud with Ticketmaster
over the size of its service charges.
Under Supreme Court precedent, damages for price fixing can be
sought only by someone who directly bought something from a
seller. Indirect purchasers do not have standing to sue.
A federal judge ruled concert venues are the direct purchasers of
Ticketmaster's services. Ticket buyers are indirect purchasers
and therefore they cannot sue, the appeals court concluded. A
federal appeals court agreed.
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