States secure landmark antitrust verdict against Live Nation and Ticketmaster
Bottom line
As we reported in our March 2026 Antitrust Digest, the DOJ’s abrupt settlement with Live Nation left more than 30 state attorneys general determined to press their monopolization claims to a jury. On Wednesday, the states’ decision was vindicated. A Manhattan federal jury found that Live Nation and Ticketmaster illegally maintained monopoly power in the live events and ticketing markets, delivering a sweeping verdict for the states on all antitrust claims.
The result is the clearest signal yet that state attorneys general are not only willing but able to prosecute complex antitrust cases to verdict, even when the federal government steps aside. The takeaway is meaningful: for the foreseeable future, state AGs will be an increasingly assertive enforcement channel, and will be emboldened to act across a range of sectors well beyond live entertainment.
The verdict
After a six-week trial and four days of deliberation, the jury found that Live Nation and Ticketmaster violated both federal and state antitrust laws through their monopolization of the live entertainment and primary ticketing markets. The jury also found that Ticketmaster overcharged concertgoers by $1.72 per ticket at major concert venues across the 22 plaintiff states that sought damages. That per-ticket figure, applied across the full volume of affected transactions, could translate to hundreds of millions of dollars in total liability.
Judge Arun Subramanian instructed both sides to confer with each other and with the United States to propose a schedule for the remedies phase, with a joint letter due by late next week. Remedies could include monetary damages, conduct requirements, and structural relief, up to and including divestiture of venues or a breakup of Live Nation and Ticketmaster.
How we got here
In March, the DOJ reached a surprise settlement with Live Nation just one week into the trial, requiring Live Nation to cede control of 13 small market amphitheaters, a 15% fee cap at Live Nation owned properties, various behavioral changes, and up to $280 million in monetary damages. However, the settlement left Ticketmaster intact and took a full breakup off the table.
A majority of state attorneys general rejected the settlement. The coalition that continued to trial ultimately comprised 34 states and the District of Columbia, led in court by Winston and Strawn’s Jeffrey Kessler. In the final week, the states narrowed their claims by dropping an exclusive dealing theory to focus squarely on the broader monopolization allegations, arguing that Live Nation controlled 86% of the ticketing market at major concert venues.
The State AG enforcement moment
The verdict is the most significant antitrust result obtained by state attorneys general in recent memory. It is also proof-of-concept; The states took over a complex monopolization case mid-trial, managed a 34-state coalition through six weeks of proceedings, and secured a verdict that the federal government itself chose not to pursue. That outcome will reshape how companies, practitioners, and policymakers assess antitrust risk.
In our March analysis, we predicted that the DOJ’s retreat from the Live Nation case would accelerate state-level enforcement activity, particularly from Democratic AGs, in areas where the federal government is perceived as pulling back. Wednesday’s verdict does more than confirm that prediction.
The verdict comes quickly on the heels of a coalition of state AGs, led by California, filing to block the merger of Nextar Media Group and Tegna- two of the largest owners of local broadcasters- after the deal was cleared by the FCC and Department of Justice. In that action, the states successfully argued for a temporary restraining order blocking the integration of the companies until a hearing on the merits.
With other large transactions in queue, such as Paramount-Warner Brothers, it is likely that states will play an increasingly independent role in antitrust enforcement. It has often been noted that states have been hamstrung in their capabilities by a lack of resources. With successful suits, such as Live Nation, and new authorities granted by state legislatures, that might no longer be a problem- and politically ambitious state AGs might have the resources to pursue claims at a time that affordability and corporate accountability gain salience in campaigns.