Equities

Reuters first to report Amazon in talks to offer event ticketing in U.S.; Live Nation shares fall

Reuters first to report Amazon in talks to offer event ticketing in U.S.; Live Nation shares fall

Reuters exclusively reported that Amazon is seeking to partner with U.S. venue owners to sell event tickets, a move that could loosen the powerful grip on the lucrative ticketing business held by Live Nation Entertainment’s Ticketmaster. Following the Reuters report, Live Nation’s shares, which had been trading up about 9 percent after strong earnings, lost all those gains and briefly traded in negative territory before rising again to end up 5.6 percent. The Reuters story was cited by numerous media outlets including Marketwatch, the Guardian, Financial Times, CNBC and the Verge.