Live Nation found to hold illegal monopoly, faces possible breakup and $700M damages

A Manhattan federal jury ruled that Live Nation illegally monopolized the live event and ticketing markets by using its control over major venues to benefit its own promotion business, causing concertgoers to pay an extra $1.72 per ticket. The verdict follows a six-week trial and challenges a prior DOJ settlement, with 33 states continuing the case seeking up to $700 million in damages and penalties. The judge will decide penalties and possible remedies, including breaking up Live Nation. The ruling is a significant win for artists and fans amid criticism of Live Nation's high fees and anti-competitive practices, though the company plans to appeal.