NEW YORK (AP) — A jury found Wednesday that entertainment giant Live Nation, which hosts tens of thousands of concerts a year, and its Ticketmaster subsidiary had a harmful monopoly over big venues.
But it could cost Live Nation hundreds of millions of dollars and perhaps force the company to sell some of its concert venues when the judge hands out penalties later.
State attorneys general who sued Live Nation said the verdict could potentially lead to lower ticket prices for music fans.
AP AUDIO: Jury finds that Ticketmaster and Live Nation had an anticompetitive monopoly over big concert venues AP correspondent Julie Walker reports Ticketmaster and Live Nation lose their antitrust trial in New York.
Live Nation said in a statement that the verdict “is not the last word on this matter.”.
Live Nation Entertainment owns, operates, controls booking for or has an equity interest in hundreds of venues.
Live Nation insisted it is not a monopoly, saying that artists, sports teams and venues decide prices and ticketing practices. »