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Jury Finds Ticketmaster Broke Monopoly Rules
A jury found Live Nation and Ticketmaster guilty. They illegally held monopoly power in ticketing.
The jury said their actions led to higher ticket prices. The jury also said service became worse as a result.
Live Nation shares fell over 5% on Wednesday. The ruling affects millions of concert and event ticket buyers.
Klear Note — Ticketmaster controls most US ticket sales for concerts and events. Monopoly laws ban companies from unfairly blocking competitors. This ruling could change how tickets are sold and priced.
Key Terms 3
- monopoly
- when one company controls a market and blocks competition
- Ticketmaster
- company owned by Live Nation that sells most concert tickets
- shares
- small pieces of a company that people can buy and sell