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Morning Wire
Marijuana Overtakes Alcohol & CNN Struggles | Afternoon Update | 5.24.24
May 24, 2024
05:29
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Topics include growing trend of daily marijuana use surpassing alcohol consumption, legalization and drug status changes; proposed financial disclosure requirements for presidents and vice presidents; CNN's rating decline and a church's plan for record-breaking baptisms.
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- Ticketmaster's monopoly on live events is challenged by the Justice Department and states, raising concerns over market competition and consumer choice.
- Marijuana has surpassed alcohol in popularity among daily users in the U.S., indicating a cultural shift towards legalizing and accepting its use.
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Antitrust Lawsuit Against Live Nation
The Justice Department and over 30 states filed a lawsuit against Live Nation Entertainment Incorporated, accusing them of having a monopoly on live events. The lawsuit argues that Ticketmaster's exclusive contracts limit innovation in the industry. With Ticketmaster controlling 80% of major concert venues' primary ticket sales and expanding into secondary sales, the allegations highlight concerns over consumer choice and market competition.
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