"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."
"Jeffrey Kessler, a lawyer for the states, said in a closing argument, calling Live Nation a monopolistic bully that drove up prices for ticket buyers."
A New York jury determined that Live Nation and Ticketmaster maintained a harmful monopoly over major concert venues, resulting in a lawsuit loss. The jury's verdict could cost the companies hundreds of millions of dollars, particularly due to a $1.72 per ticket overcharge found in 22 states. The case, initially led by the US federal government, accused Live Nation of stifling competition by preventing venues from using multiple ticket sellers. Potential penalties may include divestiture of certain entities and venues.
Read at www.aljazeera.com
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