"The states suing Live Nation gave closing arguments April 9th, imploring the jury to hold that the company had used its mammoth power to illegally crush competitors and grip the live entertainment industry with an iron fist."
"Live Nation, the nation's largest concert promoter, and Ticketmaster, the biggest ticket seller in the country, merged in 2010, forming Live Nation Entertainment."
"Since then, ticket prices and fees by the company have skyrocketed, and ticket-selling rivals have been illegally pushed out of competing for business, the suit alleged."
"Live Nation denied those allegations. The company denied that it had coerced venues into using Ticketmaster and argued that the majority of the cost for tickets is set by artists."
A New York federal jury ruled that Live Nation Entertainment and Ticketmaster illegally monopolized the live events market. The case, initiated by over three dozen states, accused the companies of using their power to eliminate competition. Judge Arun Subramanian will determine remedies, which may include divestitures or monetary damages. The lawsuit, filed by the Department of Justice and states, claimed that Live Nation coerced venues into using Ticketmaster, leading to increased ticket prices and reduced competition.
Read at Consequence
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