Ticketmaster to cap resale prices in Ontario starting next week [BNN Bloomberg (Canada)]
Live Nation Entertainment, Inc. (LYV)
Last live nation entertainment, inc. earnings: 10/31 04:01 pm
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Source: BNN Bloomberg
A spokesperson for the company confirmed the move to CP24 on Thursday after the province passed its budget bill , which includes a measure to cap resale ticket prices. “With the legislation coming into force shortly, we have begun contacting all fans with tickets listed on our resale platform to let them know we have delisted their tickets from our marketplace,” a Ticketmaster Canada spokesperson said in an emailed statement. “Next week, fans will be able to relist their tickets in compliance with Ontario's new legal requirements once updates have been made to our resale marketplace.” The amendments to the Tickets Sales Act of 2017 are going to make it illegal for tickets to concerts, cultural, sports, and other live events in Ontario to be resold for more than the all-in purchase price, which includes fees, service charges, and applicable taxes. The Ticketmaster spokesperson reiterated on Thursday that the company supports the province's new legislation, calling it “an impor
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