00:00It's Benzinga bringing Wall Street to Main Street.
00:02A Manhattan federal jury found Live Nation and Ticketmaster maintained a monopoly over
00:07major U.S. concert venues, according to Benzinga. The verdict marked a major loss for the company
00:13and could cost it hundreds of millions of dollars. The jury said Ticketmaster overcharged
00:18consumers by $1.72 per ticket across 22 states. The court may impose penalties and order divestitures,
00:25including amphitheaters. The judge asked both sides to propose a remedy schedule by late next
00:30week, according to the Associated Press. States said Live Nation used venue ownership,
00:35booking, and ticketing control to block rivals. Trial evidence showed Ticketmaster controls 86%
00:41of concert ticketing and 73% including sports. Internal messages showed executives mocking customers.
00:49Shares fell more than 6% following the verdict, while rivals' vivid seats and stub hub rose.
00:54For all things money, visit Benzinga.com.
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