"The verdict could cost Live Nation and Ticketmaster hundreds of millions of dollars, just for the $1.72 per ticket that the jury found Ticketmaster had overcharged consumers in 22 states."
"The civil case accused Live Nation of using its reach to smother competition - by blocking venues from using multiple ticket sellers, for example."
""It is time to hold them accountable," Jeffrey Kessler, an attorney for the states, said in a closing argument, calling Live Nation a "monopolistic bully" that drove up prices for ticket buyers."
"Live Nation insisted it's not a monopoly, saying that artists, sports teams and venues decide prices and ticketing practices."
A jury determined that Live Nation and Ticketmaster hold a harmful monopoly over major concert venues, leading to a lawsuit from multiple U.S. states. The verdict could result in substantial financial penalties, including overcharges of $1.72 per ticket in 22 states. The case accused Live Nation of stifling competition by restricting venues from using other ticket sellers. The judge has instructed both parties to propose a schedule for the remedies phase of the case, which may include divestitures of certain entities.
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