A New York federal jury found that Live Nation and its subsidiary Ticketmaster operated as a monopoly selling tickets to live events after attorneys general in 38 states and Washington, DC sued Live Nation for suppressing competition and jacking up fees. The verdict followed a lengthy trial featuring testimony from top music and entertainment executives.

Live Nation said Wednesday it would appeal “any unfavorable rulings” on pending motions, adding that the jury’s decision “is not the last word on this matter.”

The Justice Department and 39 state attorneys general sued in 2024. The jury found Ticketmaster overcharged states by $1.72 per ticket. State officials said the verdict vindicated common complaints that Live Nation’s practices harmed both fans and artists.

A second trial will be held to determine the remedies. Possibilities include potentially breaking up the company or spinning off portions of Live Nation’s portfolio.