Live Nation Found Liable In Antitrust Lawsuit
A jury determined yesterday that Live Nation Entertainment and its subsidiary Ticketmaster illegally maintained monopoly power in the ticketing market after a five-week antitrust trial involving the Department of Justice and 34 states.
The verdict rejects last month’s DOJ settlement with Live Nation where the company agreed to structural changes including modified venue ticketing deals, capped service fees, and a $280 million fine. States argued Live Nation drove up prices using monopolistic tactics. Attorney Jeffrey Kessler called the company a “monopolistic bully” that “kept digging the moat around the monopoly castle.”
Live Nation’s attorney David Marriott countered that being large “is not against the laws in the United States.”