There's a reason you can't get a refund from Ticketmaster for a postponed concert or Broadway show — the online ticket seller doesn't have your money. The venue does.
Ticketmaster has faced backlash from consumers seeking refunds for postponed live events.
, the company that owns Ticketmaster, said on CNBC's "Squawk Alley" on Tuesday. "Ticketmaster doesn't sell these tickets and sit on a mountain of cash. Ticketmaster sells tickets and gives the cash over to the venues where the events are held."
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