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Live Nation sheds earnings gains on report of Amazon ticketing service plan

Published 08/10/2017, 03:49 PM
© Reuters.  Live Nation sheds earnings gains on report of Amazon ticketing service plan
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  • After vaulting as much as 12.5% today to a 52-week high after a robust earnings report, Live Nation Entertainment (NYSE:LYV) has shed the bulk of the gains, now up just 1.3%, after Reuters reports Amazon.com (AMZN -2.6%) is looking to partner with venues on offering its own event ticketing.
  • Such a move could shake the firm grip that Live Nation's Ticketmaster has on the business.
  • Amazon sees the market as ripe for attack, Reuters says, with unrest from not only consumers but also venue owners, sports leagues and teams.
  • Amazon's had conversations about partnering with Ticketmaster, but those talks reportedly stalled over who would control customers' data, sources told Reuters.
  • Now read: Amazon: What You Need To Know Before Pulling The Trigger.


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