In a bombshell decision, a federal jury found that Live Nation and subsidiary Ticketmaster are an illegal monopoly that overcharged concertgoers for tickets.
In addition to illegally monopolizing the market for live event ticketing, Live Nation was found to have also illegally monopolized the market for amphitheaters. The company was also found to have tied its concert promotions business with the use of its venues.
Financially, Live Nation and Ticketmaster were found to have overcharged each customer by $1.72. This could result in payments in the hundreds of millions.
More significant would be possible structural remedies. As a result of the verdict, Live Nation could be forced to spin off Ticketmaster into its own independent company.
All of this is dependent on what Judge Arun Subramanian decides to do. It also depends on how effective (or ineffective) Live Nation appeals the decision, which it already confirmed it will.
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