The Sphere in Las Vegas is a visual rebuttal of those claiming Live Nation is a monopoly. Its young, but remarkable existence as the world's highest grossing entertainment venue isn't necessary to discredit Live Nation's attackers, but it's surely an effective way to do just that.
Live Nation (LYV) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Music lovers who have complained for years about Ticketmaster fees for concert tickets are surely reveling in a jury verdict Wednesday that found its parent company Live Nation has been running a harmful monopoly over large venues across the U.S.But they will have to wait to see if the verdict leads to changes that make concerts more affordable.Here are some things to know about the verdict in the closely-watched antitrust battle:
Some analysts say the most likely outcome for Live Nation would be more damages and penalties. Shares of the concert-ticketing giant rose on Thursday after falling a day earlier.
A US federal jury has found that Live Nation Entertainment Inc (NYSE:LYV) and its subsidiary Ticketmaster engaged in anticompetitive conduct that contributed to an illegal monopoly in the US market for major concert ticketing and related live-event services. The verdict, delivered by a Manhattan federal jury after four days of deliberation, resolves the liability phase of an antitrust case brought by dozens of US states and the District of Columbia, alongside federal authorities.
Concert giant Live Nation and its subsidiary Ticketmaster have had a harmful monopoly over big music venues, a jury in the US has found.
Live Nation will continue to fight an antitrust case brought by a coalition of states after a jury ruled against the company Wednesday (April 15). “The jury's verdict is not the last word on this matter,” the company said in a statement posted Wednesday.
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US District Judge Arun Subramanian will decide on what penalties Live Nation will need to pay as a result of the verdict, as well as appropriate remedies – including a potential breakup of the business.
With an encore sure to include appeals, calls to sell off Ticketmaster and more, Live Nation today was deemed an illegal monopoly by a federal jury in New York City.
Bloomberg Intelligence Senior Litigation Analyst Jennifer Rie discusses the jury verdict that found Live Nation illegally monopolized the live events industry and overcharged fans. The decision was reached in New York federal court on Wednesday after a six-week trial.
It's hard to know what to do when there are so many risks dragging down share prices across one's portfolio.