What to Know About the Live Nation Verdict and Its Effect on Ticket Prices
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The Bottom Line
A jury found Live Nation guilty of operating an illegal monopoly, overcharging on Ticketmaster tickets.
How This Affects You
This verdict raises hopes for more affordable concert tickets, as Ticketmaster overcharged $1.72 per ticket in 21 states and Washington, D.C.
AI Summary
A New York federal jury found Live Nation Entertainment, which owns Ticketmaster, guilty of operating an illegal monopoly over large entertainment venues on Wednesday. This verdict came after weeks of trials that began on March 2, finding that Ticketmaster overcharged $1.72 per ticket in 21 states and Washington, D.C. due to anticompetitive practices. The ruling is seen by states' attorneys general as a landmark victory, raising hopes for more affordable concert tickets. Judge Arun Subramanian will now determine remedies, which could include divestments or ordering Live Nation and Ticketmaster to break up. Live Nation, however, maintains that the verdict is not the final word and plans to pursue pending motions, including one for judgment of law.
What's Being Done
Judge Arun Subramanian will determine remedies, which could include divestments or ordering Live Nation and Ticketmaster to break up.
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