Link: Ticketmaster is an illegal monopoly, jury finds

A Manhattan jury recently found Live Nation-Ticketmaster to be an illegal monopolist across several areas of the live entertainment market, including ticketing and venue operations. This verdict marks the first critical step towards possibly dismantling the corporate giant.

The suit was initiated by the Biden administration, aiming for a result that surpasses the previous settlement reached during Trump's tenure. Judge Arun Subramanian will soon decide on the appropriate measures, which could range from lesser actions to a full breakup of the company.

The jury also determined that Ticketmaster overcharged its customers, calculating an excessive $1.72 per ticket. The overall damages are yet to be decided but could significantly financially impact the company.

The trial showcased differing perspectives, with testimonials from key industry figures including artists and rival companies, painting a complex picture of Live Nation's business practices. States argued Live Nation coerced venues into exclusivity, while defense witnesses claimed the company simply provided superior services that customers recognized.

As Live Nation and the Justice Department remain silent on the verdict, past antitrust chiefs have voiced their approval online, celebrating the AGs' rigorous pursuit of justice. This case underscores a pivotal moment in antitrust enforcement, garnering significant attention and praise.

Should the final verdict favor a breakup, it could reshape the landscape of live entertainment and ticketing in the United States, setting a historic precedent in antitrust law. This development is being watched closely by industry watchers and legal experts alike. #

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Yoooo, this is a quick note on a link that made me go, WTF? Find all past links here.