"The Justice Department sued Live Nation two years ago with hopes of splitting up Ticketmaster and Live Nation, born out of continued frustration of concertgoers at ballooning ticket prices."
"The jury did find that Ticketmaster overcharged customers by a little less than $2, which ... looking at my bank account doesn't exactly seem quite right, but that's probably an average."
"The ruling today, however, will lead to both significant divestments (if not a separation between Live Nation and Ticketmaster) and some degree of monetary damages due to the 34 states that brought this lawsuit."
A federal jury found Live Nation guilty of violating antitrust laws, acting as a monopoly with Ticketmaster. The Justice Department's lawsuit aimed to split the companies due to rising ticket prices. Live Nation's settlement allowed third-party ticketing technology use and capped venue contracts at four years. The ruling may result in significant divestments and damages from 34 states. Although Ticketmaster overcharged customers slightly, ticket prices are unlikely to decrease significantly in the near future.
Read at Vulture
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