Summary
A New York jury decided that Live Nation and its Ticketmaster unit acted as an illegal monopoly in the concert ticket market. This ruling supports multiple states' lawsuits accusing the company of harming competition and making ticket prices higher for fans.
Key Facts
- A jury in New York ruled Live Nation and Ticketmaster operated as an illegal monopoly.
- More than 30 states are suing the company for limiting competition and raising ticket prices.
- Live Nation agreed to pay $280 million in a deal with the Justice Department but many states rejected that settlement.
- Ticketmaster must sell at least 13 amphitheaters and allow others to use its ticket-selling technology as part of the deal.
- The jury found Ticketmaster overcharged customers by an average of $1.72 per ticket in 22 states.
- If ordered, Ticketmaster could owe refunds amounting to hundreds of millions of dollars.
- The judge will now decide on damages and possible penalties, which could include breaking up Live Nation.
- Live Nation denies being a monopoly and plans to appeal the jury’s decision.
