April 15 (Reuters) – Live Nation illegally monopolized ticketing markets, a New York federal jury found Wednesday, Bloomberg News reported.
Shares of the company were down 2% in afternoon trading following the report.
The world’s largest live event company will likely face further court hearings on what measures it must take to restore competition. Live Nation agreed to some measures in a settlement last month with the U.S. Department of Justice.
The verdict is a win for New York and a coalition of other states that continued on in the case after the DOJ settled in the middle of the trial.
(Reporting by Juby Babu in Mexico City and Jody Godoy in New York; Editing by Maju Samuel and Franklin Paul)
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