Competition Bureau sues Ticketmaster, Live Nation over 'deceptive' pricing [Business News Network (BNN) Energy & Resources (Canada)]
Live Nation Entertainment, Inc. (LYV)
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Source: Business News Network
Competition Bureau sues Ticketmaster, Live Nation over 'deceptive' pricing Ticketmaster and its parent company Live Nation Entertainment, Inc. allegedly used a deceptive practice known as drip pricing that saw customers pay sometimes more than 65 per cent above the advertised price, says the Competition Bureau. The law enforcement watchdog said in a statement Thursday that it has filed an application with the Competition Tribunal, asking it to end the alleged practice and make the companies pay an administrative monetary penalty. Findings from its investigation allege that Ticketmaster's advertised prices deceived consumers by adding more mandatory costs -- like service fees, facility charges or order processing fees, depending on the ticket -- later on in the purchasing process. This so-called drip pricing allegedly caused consumers to pay much higher prices than advertised -- often more than 20 per cent higher and sometimes more than 65 per cent more, the bureau said. "Ticketmaster
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