A New York federal jury on Wednesday found that Live Nation illegally monopolized the ticketing market.

Live Nation sign stands next to an office building along Hollywood Blvd., after the U.S. Department of Justice and a group of states filed an antitrust lawsuit against Live Nation Entertainment, in Los Angeles, California, on May 23, 2024. (Mike Blake/Reuters)

The company is expected to face additional court proceedings to determine what steps it must take to restore competition. Live Nation had already agreed to certain measures in a settlement reached last month with the U.S. Department of Justice, according to Reuters, citing Bloomberg News.

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The company’s shares dropped roughly 2% in afternoon trading after the report.

This is a breaking news story. Please check back for updates.