A PYMNTS Company

U.S.: NYC tour bus cos charged with running illegal monopoly

By  |  December 12, 2012

State and federal authorities have filed a suit against Twin America LLC, a hop-on, hop-off New York City tour company created as a joint venture between two formal rivals. The suit is alleging that the two companies, Coach USA Inc and City Sights LLC, are running an illegal monopoly. In response, the two companies have said they will contest the allegations, arguing that customer service has improved since the joint venture began in 2009. The suit says, however, that the joining of the two rivals allowed Twin America to raise ticket prices for customers from $49 to $54. The market is worth about $100 million, according to reports.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.