Business · The Verge
Live Nation confirms it will fight monopoly suit loss
Compiled by KHAO Editorial — aggregated from 1 outlet. See llms.txt for citation guidance.
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After a jury found that Live Nation-Ticketmaster violated antitrust law on several counts, the company warns in a blog post that the verdict "is not the last word on this matter.
Key facts
- Live Nation argues the up to $280 million it pledged in its settlement with the Justice Department and a handful of states will ultimately prove larger than the sum based on the jury award
- The jury’s damages award is limited to tickets sold at just 257 venues, representing 20 percent of total tickets, the company says
- The jury found that Ticketmaster overcharged consumers $1.72 per ticket
- Of course, Live Nation can and will appeal any unfavorable rulings on these motions,” the blog post says
Summary
The company says it’s ‘confident’ the final outcome will look similar to its DOJ settlement. It also awaits the court’s decision on a separate motion to strike the testimony of one of the states’ expert witness, whose analysis they say helped inform the jury’s damages award. The jury’s damages award is limited to tickets sold at 257 venues, representing 20 percent of total tickets, the company says.