A Manhattan federal jury delivered Live Nation a total defeat on Wednesday (April 15), finding that the concert giant and its Ticketmaster unit violated federal and state antitrust laws by illegally monopolizing the live music industry.

After a five-week trial in the U.S. District Court for the Southern District of New York and four days of deliberation, jurors sided with a coalition of state attorneys general on every key claim. The jury found that Live Nation illegally monopolized the market for ticketing services and the use of amphitheaters, and that it illegally tied the use of its venues to its concert promotion services. The jury also determined that fans overpaid by $1.72 per ticket.

As is typical with verdicts, the jurors offered no explanation for their reasoning.

What happens next?

All eyes now turn to Judge Arun Subramanian, who must decide whether to order Live Nation to sell off Ticketmaster — the remedy the states have said is the goal of their case and one that critics of the merger have long demanded. Such structural orders are drastic and rare. Judge Subramanian could instead impose a behavioral remedy, banning certain anti-competitive conduct without requiring divestiture.

Live Nation signaled immediately that it will fight on. The company said it will ask Judge Subramanian to overturn the verdict and enter judgment in its favor.

"The jury's verdict is not the last word on this matter. Pending motions will determine whether the liability and damages rulings stand," Live Nation said in a statement. "Of course, Live Nation can and will appeal any unfavorable rulings on these motions."

What did the states argue?

New York Attorney General Letitia James, who led the bipartisan coalition, called the verdict a "landmark victory."

"For far too long, Live Nation and Ticketmaster have taken advantage of fans and artists by raising prices for tickets and stifling any competition that threatened their power," James said. "A jury found what we have long known to be true: Live Nation and Ticketmaster are breaking the law and costing consumers millions of dollars in the process."

At trial, the states — led by veteran antitrust litigator Jeffrey Kessler — painted Live Nation as a "monopolistic bully" that harmed competition and drove up ticket prices. Kessler's closing argument leaned heavily on unsealed Slack messages in which two Live Nation executives joked about "taking advantage" of "stupid" fans with prices and fees: "Robbing them blind baby. That's how we do."

"Who talks like this? What type of company uses this language?" Kessler asked the jury during closing statements on Thursday (April 9). "The answer, I think you will find, is a monopolist who views itself to be above the law."

Live Nation, represented at trial by a team from Latham & Watkins, argued the company won its dominant market share over 15 years by simply outperforming rivals. During closing statements, Live Nation attorney David Marriott called his client a "fierce competitor."

How did the case get here?

The U.S. Department of Justice and dozens of states sued in 2024, 14 years after Live Nation and Ticketmaster merged with the blessing of federal antitrust regulators. Then-Attorney General Merrick Garland framed the case bluntly at the time: "It is time to break it up."

The case took an unexpected turn when DOJ reached a surprise settlement with Live Nation a week after the trial began. The deal, reportedly pushed personally by President Donald Trump, required changes in business practices but crucially did not require divestiture of Ticketmaster. Dozens of states deemed the settlement insufficient and pushed ahead with the trial on their own.

Who testified?

Over five weeks, jurors heard from a parade of industry figures, including:

• Former Barclays Center CEO John Abbamondi, who claimed Live Nation threatened to divert concerts if he switched to rival ticketer SeatGeek
• Live Nation CEO Michael Rapino, who denied such threats and said of his company's success: "I'm very proud"
• AEG Presents CEO Jay Marciano
• Current Barclays Center boss Laurie Jacoby
• Live Nation president of touring Omar Al-joulani and other Live Nation and Ticketmaster executives
• Drake's manager Adel Nur, known as Future The Prince
• Numerous economists and expert witnesses

What does the ruling change for practitioners?

For antitrust practitioners, the verdict is a reminder that state attorneys general can carry a major monopolization case across the finish line even after the federal government settles. The outcome preserves the full range of structural remedies in live entertainment and puts the burden on Judge Subramanian to choose between divestiture and conduct remedies — with Live Nation's post-trial motions and an all-but-certain appeal shaping the timeline. Companies with tying arrangements between venues, ticketing and promotion services now face a fresh jury-tested roadmap for state-led Section 2 challenges.