Ticketmaster and Live Nation found Guilty of anticompetitive venue monopoly

4 hours ago

A jury found Live Nation and Ticketmaster have an anticompetitive monopoly over big concert venues, harming consumers.
The trial revealed internal messages from a Live Nation employee criticizing high prices and calling customers 'stupid'.
Live Nation controls 86% of the concert market and 73% including sports events, according to the lawsuit.
The companies could face hundreds of millions in damages for overcharging, plus penalties and possible divestiture orders.
The case was brought by over 30 states and D.C., continuing after a partial federal settlement that didn't split Ticketmaster from Live Nation.
Live Nation's CEO testified, blaming a cyberattack for the Taylor Swift ticket issues, and the company denied being a monopoly.

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