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☆ Brace for a home improvement slump as consumers battle inflation, debt, and pressure on house prices, Home Depot warns
▼ + stars: | 2023-02-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Home Depot warned the boom may be over as higher prices and borrowing costs squeeze consumers. Here's a closer look at the US home improvement boom, and why Home Depot warned this week it might be over. Why might the home improvement boom be over? The upshot is that consumers are spending less on goods, battling rising prices and borrowing costs, and feeling less wealthy. Against that challenging backdrop, Home Depot warned on Tuesday that it anticipates flat sales and a 5% drop in diluted earnings per share.

☆ Americans are spending despite high inflation. Good for a couple Club stocks
▼ + stars: | 2023-02-15 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

E-commerce spending declined 2% year-over-year in January, Bank of America said Monday, as Americans shifted their spending towards leisure activities. The Club take Consumer spending remains healthy, despite stubbornly high inflation, and it would appear many shoppers have additional savings to dole out. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. In this handout photo provided by Walt Disney World Resort, guests stop to take a selfie at Magic Kingdom Park at Walt Disney World Resort on July 11, 2020 in Lake Buena Vista, Florida. Matt Stroshane | Walt Disney World Resort | Getty Images

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Live Nation Entertainment is composed of Live Nation, an events promoter and venue operator, and Ticketmaster, a ticket sales giant. This is not the first time consumers have called for the breakup of Ticketmaster and Live Nation. While Live Nation Entertainment arguably has a monopoly on the industry, a monopoly in itself is not illegal in the United States. The band regularly interacts with Live Nation Entertainment. It’s unclear what's next for Live Nation Entertainment.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Live Nation and Ticketmaster monopolyArtists, activists, and music lovers are once again calling for the break up of Live Nation and Ticketmaster. The two companies merged in 2010 forming Live Nation Entertainment but critics of the company claim it has a monopoly on the live entertainment industry. While a monopoly is not illegal, abusing a monopoly position is. Here's how the industry got here and what the future could hold.

☆ Live Nation exec will face lawmakers about Taylor Swift concert tickets fiasco
▼ + stars: | 2023-01-24 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +7 min

“It goes without saying that I’m extremely protective of my fans,” Swift wrote on Instagram in November. The mergerCriticism of Ticketmaster’s dominance dates back decades, but the Swift ticketing incident has once again turned that issue into a dinner table discussion at many households. Concert promoter Live Nation and ticketing company Ticketmaster, two of the largest companies in the concert business, announced their merger in 2009. ‘Customers are the ones that pay the price’While irate fans were left scrambling to wade through the Swift ticket confusion, their collective anger caught lawmakers’ attention. To me, what happened with the Swift concert tickets was not necessarily the result of Ticketmaster being the dominant player in the industry,” he said.

☆ Taylor Swift ticket sales debacle manages to unite bitter rivals
▼ + stars: | 2023-01-24 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

Some people may even find a kind of beauty in the way the system was designed to keep special interests in check. “To have a strong capitalist system, you have to have competition,” said Senator Amy Klobuchar, who called the hearing. “You can’t have too much consolidation — something that, unfortunately for this country, as an ode to Taylor Swift, I will say, we know all too well.”(Nice one, Ames.) ICYMI, tickets for Swift’s Eras Tour, which begins in March, went up for pre-sale on Ticketmaster in mid-November. But the bigger question of whether Live Nation is a monopoly is up to the Department of Justice.

☆ Ticketmaster under fire: 6 takeaways from hearing over Taylor Swift concert fiasco
▼ + stars: | 2023-01-24 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +9 min

The venues controlled by Live Nation set fees that are “consistent with the other venues in the marketplace,” he said. Entertainment industry pushes back at Ticketmaster’s dominanceMembers of the entertainment industry and one rival spoke out against Ticketmaster’s dominance in the industry. Andrew Harnik/APClyde Lawrence, a singer-songwriter on the witness panel, explained how the company acts as a promoter, a venue and the ticketing company, which eats into performing artists’ revenues. Artists, he said, have no leverage over Live Nation. Lawmaker says Ticketmaster merger should ‘be on the table’Lawmakers repeatedly questioned the US government’s past handling of the Live Nation merger with Ticketmaster.

☆ Live Nation president apologizes to Taylor Swift and her fans for ticketing fiasco and says the industry is still competitive
▼ + stars: | 2023-01-24 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

Live Nation president and CFO Joe Berchtold apologized to Taylor Swift and fans for the ticket debacle. Berchtold said that the company faced bot attacks during the Swift ticket sale, impacting service, and apologized to Swift and fans. This power over the entire live entertainment industry allows Live Nation to maintain its monopolistic interests over the primary ticketing market," Groetzinger said. "This is all a definition of monopoly, because Live Nation is so powerful that it doesn't even need to exert pressure," Klobuchar said. Lawrence, who's written for the New York Times on Live Nation and its impact on artists, said Live Nation often functions as three different things: promoter, venue, and ticketing company.

Amy Edwards demonstrates against the live entertainment ticket industry outside the U.S. Capitol January 24, 2023 in Washington, DC. The Senate Judiciary Committee slammed concert giant Live Nation on Tuesday, calling on activists and artists to speak to competition in the ticketing industry following a botched sale of Taylor Swift tickets in November. Opponents intensified their complaints in November when presale tickets for Swift's Eras Tour were plagued by disruptions and slow queues. Live Nation was supposed to open up sales for 1.5 million verified fans ahead of general public ticket sales. The Justice Department has opened an antitrust investigation into Live Nation's practices, however, that probe predates the Swift ticket sale fiasco.

☆ Live Nation CFO to testify in Senate after Taylor Swift ticketing woes
▼ + stars: | 2023-01-23 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

FILE PHOTO: The logo for Live Nation Entertainment is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2019. REUTERS/Brendan McDermidWASHINGTON (Reuters) -Live Nation Entertainment President and Chief Financial Officer Joe Berchtold will testify at a U.S. Senate Judiciary Committee hearing on Tuesday after its Ticketmaster’s unit had problems managing the sale of Taylor Swift concert tickets, the committee said. Live Nation did not immediately comment. “As Live Nation leverages its power across the concert ecosystem to increase its profits, concertgoers see higher prices, and artists experience challenging touring dynamics,” Lawrence wrote in a New York Times essay last month. In November, Ticketmaster denied any anti-competitive practices and noted it remained under a consent decree with the Justice Department following its 2010 merger with Live Nation.

☆ Live Nation CFO defends Ticketmaster, blames bots for Taylor Swift debacle
▼ + stars: | 2023-01-23 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

FILE PHOTO: The logo for Live Nation Entertainment is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2019. Ticketmaster has come under harsh criticism from fans and lawmakers, accusing it of having too much control over the market for concert tickets. Berchtold’s testimony said Live Nation has invested over $1 billion over the years to improve Ticketmaster. “Whether it meets the legal definition of a monopoly or not, Live Nation’s control of the live music ecosystem is staggering.”Ticketmaster has denied any anti-competitive practices and remains under a consent decree with the Justice Department following its 2010 merger with Live Nation. Live Nation included letters of support with its testimony including one from singer Garth Brooks who asked” My question is, as a country, why don’t we just make scalping illegal?

☆ Mass shooting leaves at least 9 dead in California after Lunar New Year festival
▼ + stars: | 2023-01-22 | by ( Cristian Santana | Linda Takahashi | ) www.cnbc.com time to read: +1 min

The skyline of Los Angeles, California, U.S.Nine people were killed in a mass shooting in Monterey Park, Calif. late Saturday, the Los Angeles County Sheriff's Department said in a statement. Bob Boese of the Los Angeles County Sheriff's Department told the Associated Press that the shooter is a male. The shooting came after thousands of people had gathered for a Lunar New Year Festival in the small city around 10 miles east of Los Angeles of about 60,000 people with a large Asian population. The two-day event features "food booths with various types of delectable items, amusement rides, and lots of live entertainment," according to the city's website. Police and fire units could be seen swarming the area in video posted to social media.

WASHINGTON, Jan 17 (Reuters) - A U.S. Senate committee will hold a hearing on Jan. 24 on the lack of competition in the ticketing industry after Ticketmaster's problems managing the sale of Taylor Swift concert tickets. The Senate Judiciary Committee hearing is titled "That’s The Ticket: Promoting Competition and Protecting Consumers in Live Entertainment." "We will examine how consolidation in the live entertainment and ticketing industries harms customers and artists alike." Consent decrees are often used to prohibit potentially anticompetitive practices or impose other requirements as a condition of merger approvals. A previous Ticketmaster dispute with the Justice Department culminated in a December 2019 settlement extending the consent agreement into 2025.

☆ Jim Cramer picks his favorite travel, restaurant, live entertainment and gym stocks
▼ + stars: | 2023-01-17 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

CNBC's Jim Cramer on Tuesday gave investors a list of stocks he believes fit Americans' spending habits after navigating the Covid pandemic for the last three years. "The biggest theme is the rise of this 'life is too short' mentality. People don't want to waste their time anymore," he said. More specifically, investors should eye travel, restaurant, live entertainment and gym stocks, according to Cramer. Here are his picks:

☆ WWE co-CEO Stephanie McMahon resigns, Vince returns as executive chairman
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +1 min

Jan 10 (Reuters) - World Wrestling Entertainment (WWE.N) elected former chief Vince McMahon as the executive chairman of the board on Tuesday, the company said, adding that co-chief executive officer and chairwoman Stephanie McMahon resigned from her role. Nick Khan will serve as the new WWE CEO, the entertainment firm added. Vince McMahon, 77, returned to the board last week and elected himself and two former co-presidents and directors Michelle Wilson and George Barrios to the board. loadingVince McMahon, who ran the company for four decades, said last week that the only way for WWE to fully capitalize on growing demand for content and live entertainment was for him to return as executive chairman. McMahon retired in July last year, as the company's CEO and chairman, following an investigation into his alleged misconduct.

☆ Vince McMahon is back at WWE to ensure a smooth sale process. Here's who might want to buy it
▼ + stars: | 2023-01-07 | by ( Alex Sherman | ) www.cnbc.com time to read: +8 min

WWE has hired JPMorgan to help the company advise on a potential sale, according to people familiar with the matter. But it remains unclear what type of role, if any, McMahon would want at WWE if he sold the company. WWE has a market capitalization of more than $6 billion after rising nearly 17% percent on Friday, buoyed by heightened sale speculation. McMahon's company already has an exclusive streaming deal with Comcast's streaming service, Peacock, and a cable TV deal with NBCUniversal's USA Network. Fox sold off most of its entertainment assets in its $71 billion sale to Disney in 2019, but WWE fits with the smaller company's sports and live events focus.

☆ Former WWE chief Vince McMahon plans return as executive chairman
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +1 min

Jan 5 (Reuters) - Vince McMahon, the former chief of World Wrestling Entertainment (WWE.N), plans to return to the company that he transformed from a regional player in a highly fragmented industry of the 1980s to a global giant, he said in a statement on Thursday. McMahon said that he expects to assume the role of executive chairman at WWE, to involve himself in the company's media rights negotiation process and review of strategic alternatives. McMahon, who has majority voting power in the company, has informed WWE that he is electing himself and two former co-presidents and directors Michelle Wilson and George Barrios to the board. The former executive, who ran the company for four decades, said that the only way for WWE to fully capitalize on growing demand for content and live entertainment was for him to return as executive chairman. McMahon retired in July last year as the company's CEO and chairman, following an investigation into his alleged misconduct.

☆ WWE confirms former chief Vince McMahon's return to board
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +1 min

Jan 6 (Reuters) - Vince McMahon, the former chief of World Wrestling Entertainment (WWE.N), is returning to the board of the company that he transformed from a regional player in a highly fragmented industry of the 1980s to a global giant, WWE said on Friday. Shares of the entertainment firm rose about 16%, as WWE also said that it would explore strategic alternatives confirming an earlier statement by McMahon. McMahon, 77, said on Thursday that he expects to assume the role of executive chairman at WWE, to involve himself in the company's media rights negotiation process. The company did not state what position Vince McMahon would hold at the board. McMahon retired in July last year as the company's CEO and chairman, following an investigation into his alleged misconduct.

☆ The Citi Diamond Preferred card — a top choice for balance transfers — is offering a rare $150 welcome bonus, but it's your last chance to apply
▼ + stars: | 2023-01-04 | by ( Jasmin Baron | Read More | Read Less | ) www.businessinsider.com time to read: +14 min

Citi; Gilbert Espinoza/Business InsiderThe Citi® Diamond Preferred® Card comes with an excellent introductory 0% APR offer. The downside: The Citi® Diamond Preferred® Card doesn't earn rewards on spending, and usually doesn't offer a welcome bonus. Insider's Featured Intro APR Credit Cards Discover it® Balance TransferCiti® Diamond Preferred® CardWells Fargo Reflect® Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Very long intro APR period for balance transfers Check mark icon A check mark. More Information 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening.

☆ It's not just Taylor Swift. Musicians describe the 'demented struggle' of touring in a shrinking industry where one giant company sells the tickets for most major venues.
▼ + stars: | 2022-12-20 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +14 min

On top of that, the Justice Department is reportedly investigating the 2010 merger of industry leaders Ticketmaster and Live Nation. Live Nation Entertainment said in a statement that it owns and operates just over 100 of the nearly 4,000 total live music venues in the United States. "Put simply, artists, venues, and consumers should no longer be at the mercy of a single seller," Sens. At the same time, Live Nation Entertainment is seeing a record year due to more shows than ever. "We always welcome the opportunity to discuss important issues facing the live entertainment industry," Live Nation said in a statement.

☆ Growth is hard to come by in the stock market these days. Here’s where to find it
▼ + stars: | 2022-12-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

That is below the trailing 10-year average annual earnings growth rate of 8.5%. T-Mobile has the highest expected earnings growth for next year, coming in at 232%. Shares gained more than 20% so far this year and have 25.7% upside to the average price target, per FactSet. Live Nation Entertainment, meanwhile, has an expected earnings growth of nearly 50% in 2023. The bank has an expected 20.8% earnings growth for next year and nearly 21% upside to the average analyst price target.

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