WHAT HAPPENED: A federal jury found Live Nation, the owner of Ticketmaster, guilty of operating as a monopoly in violation of federal and state antitrust laws. The verdict concluded a case in New York brought by 34 states that could have significant implications for the music industry.

DETAIL: The jury’s decision came after four days of deliberations following a seven-week trial. The case involved complex questions and expert testimony, with the federal government initially calling for a breakup of Live Nation and Ticketmaster. The judge will determine remedies, which could include divestments or a breakup.

IMPACT: The ruling could alter the competitive landscape of the concert industry, where Live Nation has been a dominant force. Potential court-ordered divestments might disrupt Live Nation’s business model, which relies on interconnected operations to drive ticket sales and sponsorship deals. Live Nation will have to pay damages following the jury’s decision. Jurors ruled that Ticketmaster overcharged customers by $1.72 on each ticket. The judge will determine the total damages amount based on that finding.

KEY QUOTE: Jeffrey Kessler, an attorney for the states, described Live Nation as a “monopolistic bully” during a closing argument, adding, “It is time to hold them accountable.”