Federal jury finds concert business Live Nation is a monopoly

Live Nation, which operates the Ticketmaster platform, has been determined to be a monopoly. A federal jury handed down its decision today that the company violated federal and state antitrust rules. This finding won't surprise anyone who has used Ticketmaster and been sticker-shocked by their final bill. However, it's unclear what the jury’s decision will mean in practice. 

For starters, the judge overseeing the case hasn't determined what remedies will be applied. The actions could go as far as requiring Live Nation to sell off Ticketmaster. There are also monetary damages to be awarded, which haven't been set yet. And whatever the judge decides, it's also likely that Live Nation will appeal the decision. We've reached out to Ticketmaster for comment. 

The Department of Justice and a group of state and district attorneys general sued Live Nation on monopoly claims in 2024. The government agency reached a settlement with Live Nation last month, but the other parties continued their action. There's also a separate case being waged by the Federal Trade Commission questioning whether Live Nation colluded with ticket resellers.This article originally appeared on Engadget at https://www.engadget.com/entertainment/music/federal-jury-finds-concert-business-live-nation-is-a-monopoly-203924011.html?src=rss