Live Nation Faces Global Scrutiny in Monopoly Aftermath; Bolloré Rejects Ackman’s UMG Bid; Canada Considers Streamer Tax

In the six weeks since a New York jury found that Live Nation was operating as an illegal monopoly, the live giant and its ticketing arm have come under increased pressure around the world.

In the days after the verdict was announced, Australia’s Media, Entertainment & Arts Alliance — a group of cultural executives — began pushing for an inquiry into Live Nation’s market power Down Under.

Paul Sloan of Billions Australia told Guardian Australia local ticketing charges were up to A$10 ($7.15) on each transaction in exclusive deals “that do not in any way relate to any service or benefit offered.”

The MEAA has repeated urged Australia’s Competition and Consumer Commission to investigate Live Nation to, thus far, little avail. For its part, Live Nation Australia said it “remains focused on delivering unforgettable live experiences for artists and fans, supporting local talent and investing in the growth of the industry” and that the U.S. case “is specific to the US market and has no bearing on our operations in Australia”.

Meanwhile, in the UK, Parliament’s Business and Trade Committee issued a report this week saying the country’s Competition and Markets Authority should launch a full market investigation into the live music industry before the end of the year.

Similar to the widespread public and political backlash that began on this side of the pond with the Taylor Swift “Eras” on-sale, the live industry broadly — and Live Nation and Ticketmaster specifically — came under increased focus with the on-sale of Oasis’ reunion tour, leading to a 2025 parliamentary hearing with the Committee saying it “was left with serious concerns about the state of competition in the live music industry in the UK.” The UK’s CMA has three factors that determine market dominance and the committee suggested Live Nation may meet all three.

Live Nation pushed back against the report in a statement, saying “This report misrepresents the UK live music industry by relying on inaccurate data and unsupported conclusions. Live Nation competes every day for tours, venues and artists in a highly competitive market. We will engage constructively with any process that benefits artists, fans and the wider industry, but debate about the sector must be based on evidence, not allegation and hearsay.”

The committee was particularly concerned that “a significant proportion” of evidence was submitted “anonymously or confidentially for fear of reprisal,” which “triggered alarm about whether Live Nation has a dominant and controlling market position, and the climate of fear this may have created in the industry.”

Bolloré Says No Deal In Ackman’s UMG Bid

Cyrille Bolloré, CEO of Bolloré Group, the largest UMG shareholder, is encouraging the music giant’s board to reject Bill Ackman’s $64 billion takeover bid.

At the Bolloré Group’s shareholder meeting, Bolloré said the valuation and funding structure of the deal “is not there at all.”

“He is not making an offer with his own money,” Bolloré said. “It is our money, the company’s money.”

Under the terms of the April 7 proposal, UMG shareholders would receive €9.4 billion (almost $11 billion) in cash — equivalent to €5.05 ($5.90) per share — plus 0.77 shares of “New UMG,” a newly created company that would be merged with Pershing Square’s special purchasing acquisition rights arm, registered in Nevada and eligible for New York Stock Exchange listing. UMG shares are currently traded on Amsterdam’s Euronext exchange.

Last year, Ackman pushed for UMG to relocate stateside and begin trading on American markets. Ackman called for the change after a group of Israeli soccer fans was attacked on the streets of Amsterdam. He later resigned from UMG’s board.

Pershing Square estimates the total consideration package to be worth €30.40 ($35.58) per share, a 78% premium on UMG‘s April 2 closing price. That results in a deal valued at €55.8 billion ($64.4 billion).

The Bolloré Group controls 28% of UMG shares and Ackman has acknowledged that without its backing, the deal is a dead letter as it requires the approval of 2/3 of UMG’s shareholders, meaning Bolloré has close to veto power.

Canada Readies ‘Streaming Tax’ Hike

Canada’s telecom regulator is moving to require video streaming services to pay 15% tax – up from 5% — to support “Canadian and Indigenous content” (traditional broadcasters will pay 25%, a decrease), in a move being eyed by audio streamers as a possible portend to a change in their north-of-the-border operations.

When Canada first implemented its streaming tax, it drew the attention of American lawmakers with Pennsylvania Republican Rep. Lloyd Smucker introducing a bill that would a require a Section 301 investigation in which the U.S. Trade Representative determines if a foreign government’s policies are unjustifiable, unreasonable or discriminatory to American businesses.

_Originally reported by [Pollstar](https://news.pollstar.com/2026/05/29/the-biz-live-nation-scrutiny-goes-global-bollore-pushes-against-ackmans-umg-bid-canada-proposes-streamer-tax/)._