Live Nation-Ticketmaster is an illegal monopolist, a Manhattan jury found, according to Bloomberg. The jury found the company liable on three counts: illegally monopolizing the market for live event ticketing, amphitheaters, and tying its concert promotions business with the use of its venues, Bloomberg reported.
The verdict, reached after several days of deliberation, leaves the live entertainment giant open to a potential breakup — which was the stated goal of the lawsuit back when it was filed by the Biden administration’s Department of Justice. Such an outcome would go far beyond the settlement that the Trump administration’s DOJ reached with Live Nation one week into trial. Still, Judge Arun Subramanian could opt for lesser remedies than a breakup, and any outcome will likely be the subject of appeals. Subramanian will also decide the total damages owed by the company based on the jury’s finding that Ticketmaster had overcharged consumers by $1.72 per ticket, according to The New York Times.
The trial spanned about six weeks, including a week-long break where the states went back to the negotiation table after the DOJ settled its claims with the company. Ultimately, 34 of the 40 attorneys general who went to trial decided to continue on with the litigation, seeking a broader outcome than the feds achieved, which included agreements that Live Nation would offload exclusive booking arrangements at 13 amphitheaters, and cap certain Ticketmaster fees.
Jurors heard from Live Nation executives including its CEO Michael Rapino, artists and their staff like Ben Lovett of Mumford & Sons and Drake’s manager Adel Nur, rivals like SeatGeek, and concert venue executives like the former CEO of Brooklyn’s Barclays Center.
The states painted a picture of a company that used implicit threats of pulling concerts unless venues used their ticketing services, and with such wide reach over outdoor amphitheatres that it would be impossible for artists to do a tour of them in the US without going through Live Nation. The company countered that it offers a superior service, recognized by some customers who testified, and competes fiercely for business.
yousharknotpass
tangentwithtanner
baratheonpilled
snowghoul
theartofmadeline
dailybridgerton
