A federal jury has reached a verdict that Live Nation and Ticketmaster function as a monopoly, determining that the entertainment giants have been suppressing competitive practices and inflating costs for consumers attending live events.
The companies, which joined forces through a merger in 2010, now face the next phase of legal proceedings as Washington D.C. and 33 states must present arguments supporting specific penalties and corrective measures.
However, music fans hoping for immediate ticket price relief may need to wait. The implementation of any remedies could face delays if Live Nation chooses to challenge the decision through an appeals process.
Industry analysts indicate that predicting the long-term effects on ticket pricing remains difficult, even with this legal victory against the entertainment conglomerate.
