Live Nation says it will fight monopoly suit loss
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.”
The company plans to renew a motion for the judge to issue a ruling against the states, claiming that they did not prove their case as a matter of law. 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 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.
The jury’s damages award is limited to tickets sold at just 257 venues, representing 20 percent of total tickets, the company says. 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. Judge Arun Subramanian is expected to rule on the final damages total and other relief — including a possible break up — after a separate proceeding. “We remain confident that the ultimate outcome of the States’ case will not be materially different than what is envisioned by the DOJ settlement,” the company says.
