A Manhattan jury has found Live Nation-Ticketmaster illegally monopolized the live event ticketing market, amphitheaters, and illegally tied its concert promotions business with venue usage. This verdict, which concluded a six-week trial, exposes the company to a potential breakup, a primary goal of the Biden administration’s Department of Justice lawsuit. While the judge will determine final damages and potential remedies, this outcome significantly surpasses the settlement reached by the Trump administration’s DOJ. The trial featured testimony from executives, artists, and rivals, with states arguing Live Nation used coercive tactics to ensure venue and ticketing exclusivity.
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A Manhattan federal jury has found that concert giant Live Nation and its Ticketmaster subsidiary engaged in a harmful monopoly over live event venues. This decision, reached after four days of deliberation, concluded a lawsuit brought by dozens of U.S. states. The verdict could result in significant financial penalties for the companies, potentially reaching hundreds of millions of dollars due to overcharging consumers. Furthermore, sanctions could compel Live Nation to divest certain assets, including venues they own.
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The head of the Justice Department’s antitrust unit, Gail Slater, has announced her immediate departure from her role. This comes at a significant juncture for corporate mergers, with major deals such as the potential acquisition of Warner Bros. Discovery and an ongoing legal challenge against Live Nation’s ownership of Ticketmaster on the horizon. Slater’s exit follows that of her deputy and occurs amidst heightened scrutiny of large corporate transactions.
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John Q. Hosedrinker