A Manhattan jury has found Live Nation-Ticketmaster to be an illegal monopolist in the live event ticketing market. The company will now face potential break-up proceedings, which could go beyond previous settlement agreements with the Trump administration.
The trial spanned six weeks and involved testimony from Live Nation executives, artists, rivals, and venue managers. Jurors heard that Ticketmaster used implicit threats to ensure exclusive booking arrangements at venues, while the company claims it offers superior services.
Michael Rapino, CEO of Live Nation, did not immediately comment on the verdict. However, Omeed Assefi, acting DOJ antitrust chief, called it a 'fantastic outcome for the American people'. New York Attorney General Letitia James echoed the sentiment, stating that 'a jury found what we have long known to be true: Live Nation and Ticketmaster are breaking the law.'
The case was part of a broader effort by 34 of the 40 attorneys general who initially filed suit. Their goal was a more comprehensive outcome than achieved through previous settlements, which included offloading exclusive booking arrangements at certain venues.
