Full opinion text
PER CURIAM. Plaintiff-Appellant JetAway Aviation, LLC (“JetAway”) sued Defendants-Appel-lees (“Defendants”) alleging, inter alia, violations of §§ 1 and 2 of the Sherman Act. Defendants are two local governmental entities, the Board of County Commissioners of the County of Montrose, Colorado (the “BOCC” or the “County”) and the Mont-rose County Building Authority, and also non-governmental defendants Jet Center Partners, LLC (“JCP”), Black Canyon Jet Center, LLC (“BCJC”), Kevin Egan, and James Rumble. The district court granted summary judgment to Defendants on JetAway’s antitrust claims on multiple bases, including that JetAway did not have antitrust standing to bring its claims. Jet-Away now appeals from this decision, and Governmental Defendants cross-appeal from the district court’s denial of summary judgment on state-action immunity grounds. Acting as a quorum, Judges Tymkovich and Holmes join this per curiam opinion and affirm the district court’s judgment. More specifically, both judges conclude that the district court’s decision should be affirmed on the ground that JetAway has failed to establish an antitrust injury and, consequently, lacks antitrust standing to bring this action. However, the judges employ different reasoning in reaching this conclusion; their separate concurrences, which are appended hereto, set out their reasoning. The late Judge Holloway took no part in the final resolution of this appeal. Because this court fully denies JetAway relief at the threshold on the basis of its failure to establish an antitrust injury, it has no need to reach Governmental Defendants’ cross-appeal regarding state-action immunity. Accordingly, that cross-appeal is dismissed as moot. In addition, the court addresses here two pending procedural matters—a motion to seal and a motion to strike. JetAway has filed an unopposed motion to seal Volume XVI of its appendix, which contains numerous documents that were under seal in the district court. This motion was provisionally granted by the Tenth Circuit’s clerk’s office, pending the merits panel’s final determination. For the reasons that follow, the court denies the motion to seal. “Courts have long recognized a common-law right of access to judicial records,” but this right “is not absolute.” Mann v. Boatright, 477 F.3d 1140, 1149 (10th Cir.2007); see, e.g., Nixon v. Warner Commc’ns, Inc., 435 U.S. 589, 598, 98 S.Ct. 1306, 55 L.Ed.2d 570 (1978) (“It is uncontested ... that the right to inspect and copy judicial records is not absolute.” (emphasis added)). We may, in our discretion, “seal documents if the public’s right of access is outweighed by competing interests.” Helm v. Kansas, 656 F.3d 1277, 1292 (10th Cir.2011) (quoting United States v. Hickey, 767 F.2d 705, 708 (10th Cir.1985)) (internal quotation marks omitted). “In exercising this discretion, we weigh the interests of the public, which are presumptively paramount, against those advanced by the parties.” Id. (quoting Crystal Grower’s Corp. v. Dobbins, 616 F.2d 458, 461 (10th Cir.1980)) (internal quotation marks omitted). To overcome this presumption against sealing, the party seeking to seal records “must articulate a real and substantial interest that justifies depriving the public of access to the records that inform our decision-making process.” Eugene S. v. Horizon Blue Cross Blue Shield of N.J., 663 F.3d 1124, 1135-36 (10th Cir.2011) (quoting Helm, 656 F.3d at 1292) (internal quotation marks omitted). On appeal, JetAway does not provide any basis for sealing the identified documents; instead, it merely states that the documents were filed under seal in the district court pursuant to a protective order and requests that this court maintain the status quo. Controlling precedent in this circuit—that was readily available to JetAway when it filed its motion to seal— explicitly rejects such an explanation as a sufficient justification for sealing documents on appeal. See Helm, 656 F.3d at 1292 (“[T]he parties cannot overcome the presumption against sealing judicial records simply by pointing out that the records are subject to a protective order in the district court.”); see also Colony Ins. Co. v. Burke, 698 F.3d 1222, 1241-42 (10th Cir.2012) (denying a motion to seal because “[t]he parties’ only stated reason for filing these documents under seal [was] that they involve[d] the terms of confidential settlement agreements and/or they were filed under seal in the district court” and “[n]either party [had] submitted any specific argument or facts indicating why the confidentiality of their settlement agreements outweigh[ed] the presumption of public access,” and noting that we were “not bound by the district court’s decision to seal certain documents”). Under the foregoing precedent, this court clearly could rest its denial of JetA-way’s motion to seal solely on this lack of justification. However, despite having no obligation to do so, this court has taken the additional step of examining JetAway’s motion for a protective order—presented to the district court—to discern whether JetAway has ever expressly offered any specific grounds for why the confidentiality of the documents at issue “outweighs the presumption of public access.” Colony Ins. Co., 698 F.3d at 1242. JetAway has not; its protective-order motion simply states that, at that time, the parties anticipated the production of confidential and proprietary information during discovery. However, a generalized allusion to confidential information is woefully inadequate to meet JetAway’s “heavy burden.” See Helm, 656 F.3d at 1292-93 (rejecting as insufficient the parties’ sole argument in support of their motion to seal that the documents at issue were “confidential discovery materials that [were] subject to a stipulated protective order entered by the district court”). Thus, even after taking this additional step, this court finds no basis to seal the requested documents; it denies that relief. And, with limited elucidation required, the court disposes of the second procedural matter. Defendants move to strike Jet-Away’s reliance on notes taken by County Commissioner David White regarding conversations he had with JCP’s Kevin Scott. The notes purportedly support JetAway’s position that Mr. Scott and Mr. Rumble colluded with Mr. Patterson to ensure that fixed-base operator (“FBO”) services at Montrose Regional Airport (the “Airport”) were privatized and that the County would select JCP as the sole provider of those services. The district court concluded that these notes were inadmissible double hearsay. It is unnecessary to delve into the parties’ arguments on this score; even if this court considered the notes, it would conclude that they have no bearing on the dispositive issue—viz., whether Jet-Away has antitrust standing. Therefore, Defendants’ motion to strike is denied as moot. In sum, by this per curiam opinion, this court AFFIRMS the district court’s grant of summary judgment to Defendants, DISMISSES Governmental Defendants’ cross-appeal as moot, DENIES JetAway’s motion to seal, and DENIES Defendants’ motion to strike as moot. . When appropriate, the attached concurrences use the abbreviations noted here and, more generally, refer to the BOCC and the Montrose County Building Authority as "Governmental Defendants,” and to JCP, BCJC, Mr. Egan, and Mr. Rumble as "Non-Governmental Defendants.” . When appropriate, the attached concurrences use the abbreviations noted here ("FBO” and the “Airport”) in reference to fixed-base operator services at the Montrose Regional Airport.
HOLMES, Circuit Judge, concurring: I join the per curiam opinion that affirms the judgment of the district court. I write separately to explicate my reasoning for concluding that JetAway has failed to establish an antitrust injury and, consequently, lacks antitrust standing to bring this action. In 2005, the County decided to privatize FBO services at the Airport and requested proposals from private parties. The BOCC received two proposals—one from JetAway and one from JCP. When JCP was selected to provide FBO services at the Airport, JetAway filed the instant lawsuit, alleging that Defendants violated the Sherman Act by manipulating the selection process and excluding JetAway from competing in the FBO services market at the Airport. The district court granted summary judgment in Defendants’ favor, con-eluding, inter alia, that JetAway lacked antitrust standing. I would affirm. I A Despite the voluminous record and extensive discovery undertaken in this case, the facts necessary to decide this appeal are relatively few. The difficulties among the parties arose from JetAway’s efforts to obtain the right to serve as an FBO at the Airport, which the County runs. An FBO is a commercial business that provides a variety of aircraft-related services, such as fueling, hangaring, parking, aircraft rental, aircraft maintenance, and flight instruction. From 1991 to January 2006, the County ran the FBO at the Airport. The BOCC is the governing authority for the County and consists of three members. Beginning in 2002, the BOCC began discussing the need to expand FBO services at the Airport and whether it should privatize these operations. Around the same time, Mr. Scott and Defendants Mr. Rumble and Mr. Egan considered forming JCP for the purpose of operating an FBO at the Airport in the event the County privatized FBO services. In early 2002, Mr. Scott provided the BOCC with a draft request-for-proposal (“RFP”) form for the BOCC to use in soliciting bids if it chose to privatize FBO services. Moreover, on April 5 of that year, JCP submitted an unsolicited proposal to the BOCC to be selected as the FBO for the Airport, which was not accepted. In the following years, JCP lobbied for privatization of the FBO services at the Airport. JetAway also was in favor of privatization. The three members of the BOCC were up for re-election in November 2004. At least two candidates publicly endorsed privatization of FBO services at the Airport: Bill Patterson and Allan Belt. Mr. Patterson and Mr. Belt won two of the three BOCC seats in the November 2004 election and, shortly thereafter, met with Mr. Scott and Mr. Rumble regarding this potential privatization. But support for privatization was not unanimous; in fact, an external consulting firm concluded that the County would economically benefit from continuing to operate the FBO at the Airport. Also in 2004, JetAway purchased property adjacent to the Airport, from which it began operations as a “through-the-fence” FBO service provider. From this property, JetAway provided non-fuel-related FBO services to the Airport—which, in JetAway’s view, placed it in a strong position to be selected by the County as the Airport’s FBO if FBO services were privatized. In early 2005, the BOCC decided that the County should privatize FBO services at the Airport. It therefore published an RFP for a private, on-Airport FBO service provider. The County reserved the right to negotiate with one, two, or several parties that might submit proposals, as well as the right to reject all proposals. The RFP also required each proposal to adhere to the Airport’s minimum standards, which at that time explicitly forbade “through-the-fence” commercial operations such as Jet-Away’s. The County formed an independent committee to evaluate the FBO proposals that were submitted and to make a recommendation to the BOCC regarding whether it should accept one or more of the proposals or decline to privatize FBO operations at the Airport. As it turned out, the County only received two proposals— one from JetAway and one from JCP. Upon evaluation of the proposals, the independent committee recommended against privatizing FBO services at the Airport. Nevertheless, the BOCC voted to enter into negotiations with JCP, even though JetAway’s proposal guaranteed a significantly higher payment to the County than JCP’s initial proposal. On December 5, 2005, the County officially privatized FBO services at the Airport and entered into an FBO agreement with JCP that permitted JCP to provide these services on Airport property. That same day, with the assistance of Mr. Scott, the County adopted revised minimum standards for the Airport. Many of these reformulated standards, according to JetA-way, made it difficult (if not impossible) for JetAway or any other FBO service provider to effectively compete with JCP. Despite these setbacks, JetAway continued to negotiate with the County in an attempt to become a second FBO service provider at the Airport. But according to JetAway, the County and JCP were determined to thwart its efforts to compete with JCP in the FBO services market. For example, JetAway has provided evidence that County Attorney Robert Hill was in communication with JCP regarding JetA-way’s proposal to the BOCC to acquire on-Airport land from which to operate its FB O-services business and that Mr. Hill advised JCP to take action in light of this information to prevent JetAway’s acquisition of the land. In the end, the BOCC rejected JetAway’s proposals. JCP began to provide on-Airport FBO services in January 2006. Around this time, JetAway was fueling aircraft on-Airport without the County’s consent. In November 2008, the County sought a preliminary injunction to terminate JetAway’s access to the Airport, alleging that JetA-way violated several Airport safety rules in the course of running its business. The state court agreed with the County and issued a preliminary injunction. Thereafter, the County prevented JetAway from accessing Airport property, and JetAway’s off-Airport operation has been closed ever since. B JetAway filed the instant action against Defendants in December 2007, alleging violations of §§ 1 and 2 of the Sherman Act and, pursuant to 42 U.S.C. § 1983, violations of the Equal Protection Clause and the Commerce Clause. Non-Governmental Defendants filed a motion to dismiss pursuant to Federal Rule of Civil Procedure 12(b)(6), arguing, inter alia, that the Noerr-Pennington doctrine shielded them from liability. The district court denied their motion, concluding, inter alia, that the Noerr-Pennington doctrine did not apply. Governmental Defendants then moved for summary judgment on all of JetAway’s claims. As to JetAway’s antitrust claims, Governmental Defendants argued that these claims failed as a matter of law and that Defendants were entitled to state-action immunity. The district court denied the motion and, instead, granted Jet-Away’s motion for additional discovery. Defendants subsequently filed a second motion for summary judgment, which the district court granted as to all claims. The district court concluded that JetAway’s claims under the Equal Protection and Commerce Clauses were meritless. As to JetAway’s antitrust claims, the district court concluded this time that the Noerr-Pennington doctrine shielded Non-Governmental Defendants from antitrust liability. Most important for purposes of this appeal, the district court concluded that Jet-Away did not have antitrust standing to bring any of its antitrust claims. The district court reached this conclusion by focusing on the report of JetAway’s antitrust expert, Dr. Philip B. Nelson, which stated that the demand for FBO services at the Airport was only sufficient to support one FBO service provider. In light of Dr. Nelson’s report, the court reasoned that “[i]n essence, [JetAway] admits that the size of the business opportunity at the Airport limits that market to a single FBO operator.” Aplt.App. at 6865 (Mem. Op. & Order, filed Mar. 28, 2012). The district court acknowledged JetA-way’s contention that “the defendants’ protection of JCP from later entry by JetA-way has caused injury to the users of the Airport by subjecting them to higher prices and inferior services.” Id. However, drawing further on Dr. Nelson’s report concerning the timing of such competition, the court concluded that any competition between JetAway and JCP would have been relatively short-lived. Specifically, the court stated that “while there may be a period of competition between two competing [FBOs], for a limited time, perhaps one year, the market can sustain only one operator.” Id. It reasoned that the possibility of such temporary competition did not militate in favor of a finding of antitrust injury. In this regard, the court stated, “It is well established law that the anti-competitive conduct that violates the Sherman Act must have more than a temporary effect on the market.” Id. The district court thus ultimately determined that, because ordinarily the Sherman Act does not protect one monopolist from the efforts of another aspiring monopolist to replace it, JetAway could not establish that Defendants caused an antitrust injury. Consequently, JetAway could not establish antitrust standing. The court’s antitrust-standing determination was sufficient to shut the door on JetAway’s antitrust claims. However, the court proceeded to reach the merits of those claims. Among other things, the court observed: “[T]he allegation is that the County had selected JCP to be the FBO operator even before issuing the RFP. The disputed evidence may support that finding. That, however, is not illegal [under the antitrust laws].” Id. at 6863. The court further opined, “It may be that the Commissioners who signed the FBO agreement with JCP did not act in the best interest of their constituents and permitted themselves to be unduly influenced by personalities. That is a matter of political concern; it is not an antitrust conspiracy.” Id. at 6866. In sum, the district court ruled that Defendants were “entitled to summary judgment of dismissal of the claims of violation of Sections 1 and 2 of the Sherman Act.” Id. at 6868. JetAway appeals from the district court’s grant of summary judgment to Defendants. Governmental Defendants cross-appeal the district court’s decision denying them state-action immunity. II This court “reviewfs] a grant of summary judgment de novo, applying the same standard as the district court.” Automax Hyundai S., LLC v. Zurich Am. Ins. Co., 720 F.3d 798, 803 (10th Cir.2013) (quoting Oldenkamp v. United Am. Ins. Co., 619 F.3d 1243, 1246 (10th Cir.2010)) (internal quotation marks omitted). Summary judgment is proper “if the movant shows that there is no genuine dispute as to any material fact and the movant is entitled to judgment as a matter of law.” Fed. R.Civ.P. 56(a). “There is no genuine issue of material fact unless the evidence, construed in the light most favorable to the non-moving party, is such that a reasonable jury could return a verdict for the non-moving party.” Koessel v. Sublette Cnty. Sheriff’s Dep’t, 717 F.3d 736, 742 (10th Cir.2013) (quoting Bones v. Honeywell Int’l, Inc., 366 F.3d 869, 875 (10th Cir.2004)) (internal quotation marks omitted). III JetAway focuses all of its efforts on appeal on its antitrust claims. The parties vigorously dispute several aspects of the district court’s decision with respect to those claims. However, it is necessary to address only one issue to resolve this case: whether JetAway has established an antitrust injury. Under the controlling law, I conclude that it has not. Consequently, as I see it, JetAway lacks antitrust standing, and the district court’s decision must be affirmed. See, e.g., Expert Masonry, Inc. v. Boone Cnty., 440 F.3d 336, 348 (6th Cir.2006) (“Although the district court granted summary judgment based on its analysis of state action immunity, we explicitly do not reach the question of immunity because we find that the lack of any alleged antitrust injury is more than sufficient to affirm summary judgment here.”); Fischer v. NWA, Inc., 883 F.2d 594, 599 (8th Cir.1989) (“We affirm the district court. However, we do so on different grounds: the failure of Fischer to establish that it suffered an antitrust injury as a result of Northwest’s acquisition of Republic.”); see also IIA Phillip E. Areeda et al., Antitrust Law ¶ 335f, at 73 (3d ed.2007) [hereinafter “Areeda”] (“[Cjourts usually address standing first because they can often decide standing more readily than liability before trial.”). A Section 4 of the Clayton Act gives private parties, such as JetAway, the power to enforce federal antitrust laws. See 15 U.S.C. § 15(a) (“[A]ny person who shall be injured in his business or property by reason of anything forbidden in the antitrust laws may sue therefor.”); accord Ashley Creek Phosphate Co. v. Chevron USA, Inc., 315 F.3d 1245, 1254 (10th Cir.2003). Here, JetAway brought its federal antitrust claims pursuant to both §§ 1 and 2 of the Sherman Act. Section 1 of the Sherman Act prohibits, inter alia, “contract[s]” or a “conspiracy” “in restraint of trade or commerce,” 15 U.S.C. § 1, while § 2 prohibits the “monopoliz[ation], or attempt to monopolize ... trade or commerce,” id. § 2. See Cohlmia v. St. John Med. Ctr., 693 F.3d 1269, 1280 (10th Cir.2012) (discussing the requirements of, and differences between, §§ 1 and 2 of the Sherman Act); Elliott Indus., 407 F.3d at 1123-24 & nn. 29-30 (setting forth the elements of claims made pursuant to §§ 1 and 2 of the Sherman Act). To pursue such claims under § 4 of the Clayton Act, a plaintiff must demonstrate not only that it has standing under Article III of the Constitution, but also that it has antitrust standing. See Tal, 453 F.3d at 1253; Elliott Indus., 407 F.3d at 1124. The requirements of antitrust standing “are more rigorous than [those] of the Constitution,” Tal, 453 F.3d at 1253; a plaintiff “must show (1) an ‘antitrust injury’; and (2) a direct causal connection between that injury and a defendant’s violation of the antitrust laws,” Ashley Creek, 315 F.3d at 1254 (quoting Sports Racing Servs., Inc. v. Sports Car Club of Am., Inc., 131 F.3d 874, 882 (10th Cir.1997)) (internal quotation marks omitted); accord Tal, 453 F.3d at 1253. Whether a plaintiff has suffered an antitrust injury is a “threshold inquiry.” Abraham, 461 F.3d at 1267; see Rural Tel. Serv. Co. v. Feist Publ’ns, Inc., 957 F.2d 765, 768 (10th Cir.1992) (noting that a “plaintiff must show causal antitrust injury”); Fischer, 883 F.2d at 599 (“Unless it can establish that its alleged injury was caused by conduct that violates the antitrust laws, a plaintiff lacks standing, under Section 4 of the Clayton Act, to bring an antitrust lawsuit.”). This threshold requirement “ensures that the harm claimed by the plaintiff corresponds to the rationale for finding a violation of the antitrust laws in the first place.” B-S Steel of Kan., Inc. v. Tex. Indus., Inc., 439 F.3d 653, 667 (10th Cir.2006) (quoting Atl. Richfield Co. v. USA Petroleum Co., 495 U.S. 328, 342, 110 S.Ct. 1884, 109 L.Ed.2d 333 (1990)) (internal quotation marks omitted); see also Yavar Bathaee, Note, Developing an Antitrust Injury Requirement for Injunc-tive Relief that Reflects the Probability of Anticompetitive Harm, 13 Fordham J. Corp. & Fin. L. 329, 331 (2008) (“The antitrust injury requirement is an integral part of the antitrust standing inquiry. While antitrust standing determines whether the correct plaintiff is before the court, the antitrust injury doctrine ensures that injuries redressed by the Clayton Act are injuries against which the antitrust laws were meant to protect.” (footnote omitted)); cf. Davis, supra, at 723 (“Very simply, the doctrine of antitrust injury requires a court to examine not only whether the acts the defendant allegedly committed violate the law but also why they violate the law.”). Put another way, an antitrust injury is “an injury of the type the antitrust laws were intended to prevent and that flows from that which makes defendants’ acts unlawful.” Tal, 453 F.3d at 1253 (quoting Brunswick Corp. v. Pueblo Bowl-O-Mat, Inc., 429 U.S. 477, 489, 97 S.Ct. 690, 50 L.Ed.2d 701 (1977)) (internal quotation marks omitted); accord Cohlmia, 693 F.3d at 1280; Elliott Indus., 407 F.3d at 1124; Reazin, 899 F.2d at 962 n. 15; see also Bathaee, supra, at 335 (“To determine whether an antitrust injury exists, one must understand what protections antitrust laws were meant to afford.”). It is therefore critical to set forth precisely what type of injury the antitrust laws were intended to prevent. See, e.g., Davis, supra, at 723 (“The [antitrust-injury] doctrine, in other words, directs a court to examine, in a proper case, what economic effects the case law rule or statute in question seeks to prevent.”); Bathaee, supra, at 335 (“The antitrust injury analysis requires that courts examine the injury sustained, the purpose of the antitrust laws creating the cause of action, and the causal link between the two.”). “The [Sherman Act] directs itself not against conduct which is competitive, even severely so, but against conduct which unfairly tends to destroy competition itself.” Spectrum Sports, Inc. v. McQuillan, 506 U.S. 447, 458, 113 S.Ct. 884, 122 L.Ed.2d 247 (1993); cf. United States v. Syufy Enters., 903 F.2d 659, 663 (9th Cir.1990) (“If, as the metaphor goes, a market economy is governed by an invisible hand, competition is surely the brass knuckles by which it enforces its decisions”). This proposition applies with full force as to both §§ 1 and 2 of the Sherman Act. Compare Syufy Enters., 903 F.2d at 663 (discussing the Sherman Act’s focus on competition in a § 2 case), with Atl. Richfield Co., 495 U.S. at 342, 110 S.Ct. 1884 (stating that § 1 asks “whether a restraint [on competition] is ‘unreasonable,’ i.e., whether its anticompetitive effects outweigh its pro-competitive effects”), and Nat’l Soc’y of Prof'l Eng’rs v. United States, 435 U.S. 679, 690, 98 S.Ct. 1355, 55 L.Ed.2d 637 (1978) (stating that the § 1 “inquiry is confined to a consideration of impact on competitive conditions”). Moreover, the Sherman Act’s goal of preventing unfair competition is pursued with an eye toward safeguarding the benefits that consumers derive from a competitive marketplace. See Novell, Inc. v. Microsoft Corp., 731 F.3d 1064, 1073 (10th Cir.2013) (“The bottom line, then, is that antitrust evinces a belief that independent, profit-maximizing firms and competition between them are generally good things for consumers.... Experience teaches that independent firms competing against one another is almost always good for the consumer and thus warrants a strong presumption of legality.”), cert. denied, - U.S. -, 134 S.Ct. 1947, 188 L.Ed.2d 976 (2014); see also Fishman v. Estate of Wirtz, 807 F.2d 520, 535 (7th Cir.1986) (“[T]he enhancement of consumer welfare is an important policy—probably the paramount policy—informing the antitrust laws.”); Robert H. Bork, The Antitrust Paradox 61 (1978) (“The legislative history of the Sherman Act ... displays the clear and exclusive policy intention of promoting consumer welfare.”). Generally speaking, “the antitrust laws ... protect competition, not competitors.” Fischer, 883 F.2d at 599-600; see Colo. Interstate Gas Co. v. Natural Gas Pipeline Co. of Am., 885 F.2d 683, 697 (10th Cir.1989) (“[T]he Supreme Court, in a now oft quoted phrase, has stated ‘the antitrust laws ... were enacted for the protection of competition not competitors.’ ” (omission in original) (quoting Pueblo Bowl-O-Mat, 429 U.S. at 488, 97 S.Ct. 690) (internal quotation marks omitted)); see also Spectrum Sports, 506 U.S. at 458, 113 S.Ct. 884 (“[The Sherman Act focuses on competition] not out of solicitude for private concerns but out of concern for the public interest.”); Novell, 731 F.3d at 1078 (“Were intent to harm a competitor alone the marker of antitrust liability, the law would risk retarding consumer welfare by deterring vigorous competition.... ”); Cohlmia, 693 F.3d at 1280 (“The primary concern of the antitrust laws is the corruption of the competitive process, not the success or failure of a particular firm or individual.” (quoting Tal, 453 F.3d at 1258) (internal quotation marks omitted)); SCFC ILC, Inc. v. Visa USA, Inc., 36 F.3d 958, 972 (10th Cir.1994) (“The Sherman Act ultimately must protect competition, not a competitor, and were we tempted to collapse the distinction, we would distort its continuing viability to safeguard consumer welfare.”). As such, “[a] producer’s loss is no concern of the antitrust laws, which protect consumers from suppliers rather than suppliers from each other.” SCFC ILC, 36 F.3d at 972 (quoting Stamatakis Indus., Inc. v. King, 965 F.2d 469, 471 (7th Cir.1992)) (internal quotation marks omitted). In accord with these principles, the Sherman Act is not concerned with overly aggressive business practices, or even conduct that is otherwise illegal, so as long as it does not unfairly harm competition. See Four Corners Nephrology Assocs., P.C. v. Mercy Med. Ctr., 582 F.3d 1216, 1225 (10th Cir.2009) (“After all, it is the ‘protection of competition or prevention of monopoly[] which is plainly the concern of the Sherman Act,’ not the vindication of general ‘notions of fair dealing,’ which are the subject of many other laws at both the federal and state level.” (alteration in original) (quoting IIIB Areeda, supra, ¶7706, at 190)); Expert Masonry, 440 F.3d at 348 (“The parties may break a host of state or federal laws and regulations in making a side deal or in otherwise circumventing the bidding process in reaching a final arrangement, but they do not breach Section 1 of the Sherman Act where the alleged vertical agreements involve only one buyer and one seller.”). Thus, consonant with the Sherman Act’s statutory concerns, “[t]he antitrust injury-requirement ensures that a plaintiff can recover only if [its injury] stems from a competition-reducing aspect or effect of the defendant’s behavior.” Elliott Indus., 407 F.3d at 1124-25 (first alteration in original) (quoting Atl. Richfield Co., 495 U.S. at 344, 110 S.Ct. 1884) (internal quotation marks omitted); see Michael A. Carrier, A Tort-Based Causation Framework for Antitrust Analysis, 77 Antitrust L.J. 991, 997 (2011) (“The legal aspect of antitrust injury doctrine has been important in limiting cases in which the plaintiff cannot show harm related to reduced competition.”). B JetAway contends that it suffered an antitrust injury because Defendants engaged in anticompetitive behavior in the FBO services market by manipulating the bid process rather than allowing market forces to determine which company was the superior FBO service provider. More specifically, JetAway argues that once the County sent out the RFP—initiating an ostensibly competitive bid process—then, in fact, it had “to be a fair and competitive bid process; it [could not] be manipulated.” Oral Argument at 3:28, JetAway Aviation, LLC v. Bd. of Cnty. Comm’rs (Nos.12-1173, 12-1194). JetAway asserts that Defendants engaged in precisely such manipulation, unfairly putting a finger on the scales in favor of JCP. The unlawful result, as JetAway sees it, is that it was kept out of the Airport’s FBO services market and not permitted to compete head-to-head with JCP. As previously stated, the district court disagreed, reasoning as follows. Based on the report from JetAway’s own expert, Dr. Nelson, the market for FBO services at the Airport could only sustain one FBO service provider, and because ordinarily the antitrust laws do not prevent one rno-nopolist from taking the place of another, there could be no harm to competition from such substitution and thus no antitrust injury. Even assuming that, but for Defendants’ allegedly anticompetitive conduct, there would have been a period of competition between JCP and JetAway, the district court concluded that this too did not establish an antitrust injury, because the competitive period would have been limited (perhaps to one year) and, ultimately, only one of the two FBOs would have emerged as the FBO service provider in the Airport market. The district court essentially concluded that, even if Defendants in some way manipulated the FBO selection process or if their conduct was otherwise unfair, such conduct did not affect competition, and thus JetA-way did not suffer an antitrust injury. For the reasons that follow, I am in substantial agreement with the district court. The district court appropriately identified the material facts that are not genuinely disputed and, in my view, applied sound legal principles to those facts in concluding that JetAway could not establish an antitrust injury. Therefore, like the district court, I conclude that JetAway lacks antitrust standing. 1 Notably, the district court’s universe of genuinely undisputed material facts was based in large part on the testimony of JetAway’s own expert, Dr. Nelson. In his report, Dr. Nelson set forth the “structural characteristics” of the relevant market, which he defined as the market for FBO services at the Airport. ApltApp. at 3186 (Expert Report of Philip B. Nelson, Ph.D., dated July 15, 2011) (capitalization altered). He noted that, following Defendants’ allegedly anticompetitive conduct, “JCP [was] the only competitor in the relevant market[], which implies that its market share [was] 100%.” Id. Next, he analyzed the likelihood of other entrants into this market and concluded that other than JetAway, there were no probable entrants. Important for purposes of this appeal is one of the bases for Dr. Nelson’s conclusion—namely, that “[t]here [was] only enough demand for FBO services at the Airport to support one FBO.” Id. at 3190. Thus, according to Dr. Nelson, the market could only support one FBO provider; it would be either JCP or JetAway. As a foundation for his assessment of damages, Dr. Nelson reiterated this conclusion; “But for the alleged anticompeti-tive conduct related to the contract selection process, JetAway would likely have been the only FBO at [the Airport].” Id. at 3200 (capitalization altered) (internal quotation marks omitted). Dr. Nelson made this determination via several subsidiary conclusions. First, he reasoned that JCP would not have entered the market if JetAway had, because JCP would have operated at a loss. Second, he again recognized that “[t]here [was] not enough demand for FBO services to support two FBOs in the [long run]” at the Airport. Id. at 3201 (capitalization altered). Finally, he concluded that “[i]f JetAway and JCP both entered [the market] in January 2006, JetAway was more likely to survive” due to the various competitive advantages JetAway had over JCP. Id. Dr. Nelson summarized his position as follows: “but for the alleged unlawful behavior, JetAway would have negotiated with the County after submitting its RFP response and would have been selected as the sole FBO at Montrose Airport (or JCP would have decided not to compete if it had also been selected).” Id. at 3203. He explained that, in the “less likely event” that JCP decided to enter the market anyway and compete with JetAway, “there would have been a short period” of competition that would have led to a reduction in JetAway’s profits “associated with this short competitive period.” Id. at 3203 n. 377 (emphases added). He then calculated the “but-for” damages as if JetAway had been the only FBO service provider from January 2006 forward. Alternatively, Dr. Nelson projected JetAway’s damages if, as a result of this litigation, JetAway were permitted to enter the market in January 2012. Under that scenario, Dr. Nelson recognized that “JCP might not immediately stop operations,” so he assumed that “JCP would continue to operate its business at a loss for one year before ceasing operations.” Id. at 3208 (emphasis added). JetAway attempts on appeal to undermine its own expert’s characterization of the market in several ways, none of which are availing. First, JetAway argues that there is a genuine dispute of material fact as to whether the FBO services market at the Airport would inevitably be controlled by a monopolist. But the evidence on which JetAway relies does not cast doubt on Dr. Nelson’s conclusions.' JetAway specifically points to JCP’s representations to the County that two FBOs could compete at the Airport. In May 2005, the County asked JCP whether it would still consider its FBO services proposal viable if the County were “obligated to allow additional FBO operators.” Id. at 6679 (Letter from Cnty. to JCP, dated May 27, 2005). JCP responded that the presence of additional FBO providers “would not necessarily change the viability of’ its proposal, so long as potential competitors were subject to the same requirements as JCP, because JCP intended to outperform the competition. Id. at 6682 (Letter from JCP to Cnty., dated May 31, 2005). JetAway also cites the County’s representations to the Federal Aviation Administration (“FAA”) that a second FBO operator at the Airport would be feasible. However, as I see it, this evidence is not inconsistent with Dr. Nelson’s report and does not create a genuine dispute of material fact. This is so because Dr. Nelson’s report expressly contemplated that JCP and JetAway might occupy the market together as competitors, but concluded that this circumstance would only briefly exist. Ultimately, as suggested by that expert report, the market would be perforce controlled by a lone monopolist. Therefore, JCP’s and the County’s representations regarding the feasibility of a second FBO in the market are in no way inconsistent with Dr. Nelson’s ultimate, critical conclusion that “[t]here is only enough demand for FBO services at the Airport to support one FBO.” Id.- at 3190. Expressed another way, any seeming inconsistency between Defendants’ representations and Dr. Nelson’s conclusion evaporates when one considers the matter of timing: Dr. Nelson recognized the possibility of two FBOs competing in the Airport’s FBO services market; he simply concluded that any period of competition generated by the second FBO would be short-lived. JetAway attempts, however, to cast doubt on whether any period of competition that might have occurred actually would have been short. To do so, JetA-way points to evidence that the County and another company simultaneously provided FBO services at the Airport for a three-year period during the late 1980s and early 1990s. But evidence of a three-year period of competition approximately fifteen years before the time period at issue here does not place in dispute Dr. Nelson’s conclusion that, as the market stood at the relevant time, a short period of competition between JCP and JetAway would quickly have driven one of the two out of business. Finally, JetAway argues that Dr. Nelson’s one-year estimate regarding the period of possible competition between JCP and JetAway was made only for purposes of estimating damages, and thus the true period of competition that would have resulted between the two FBOs is unknown. However, it was not the precise period of competition between the two FBOs that the district court deemed to be the material fact; rather, it was the fact that any such period of competition would have been short. And Dr. Nelson’s report unequivocally supports the notion that any period of competition, at most, would have been short. Thus, even disregarding the one-year figure, the record was not silent or uncertain concerning the period of any competition. It is that “short”—or, as the district court called it, “limited”—time frame of competition, and not the more specific one-year period, that formed the predicate for the district court’s legal conclusion that the timing of any competition did not advance JetAway’s cause to establish antitrust injury. See id. at 6865 (stating that “while there may be a period of competition between two competing [FBOs], for a limited time, perhaps one year, the market can sustain only one operator” (emphasis added)). Therefore, the district court’s legal reasoning had support in the record concerning the length of any competition. 2 In my view, the district court correctly determined that applying these antitrust principles to the genuinely undisputed material facts—most notably, the facts coming from the testimony of JetAway’s own expert, Dr. Nelson—doomed JetAway’s effort to demonstrate an antitrust injury. a To start, the district court correctly understood that the mere fact that one monopolist is able to successfully replace another does not harm competition and, therefore, does not effect an antitrust injury. See Herbert Hovenkamp, Federal Antitrust Policy 663 (4th ed.2011) [hereinafter “Hovenkamp”] (“[I]f the plaintiffs only claim is of the nature T, rather than the defendant, was entitled to be the monopolist,’ then the plaintiff is not a victim of antitrust injury.”); see also Fishman, 807 F.2d at 538 (“Without more, the substitution of one competitor for another does not implicate the antitrust laws.”). The rationale for this is simple: while there is harm to the monopolist who is replaced, there is no harm to the level of competition in the market. See Columbia River People’s Util. Dist. v. Portland Gen. Elec. Co., 217 F.3d 1187, 1190 (9th Cir.2000) (holding that there cannot be a § 1 violation when one monopolist utility seeks to replace another in a “monopoly market” because this only affects competitors, not competition; “consumers will still buy electricity and a utility will still produce it”). Regardless of which entity controls a monopoly, it remains “free to reduce output and increase prices, the standard evils of monopoly power.” HyPoint Tech., Inc. v. Hewlett-Packard Co., 949 F.2d 874, 878 (6th Cir.1991). But it is well-established that the possession of monopoly power alone, “and the concomitant charging of monopoly prices,” is not itself unlawful; an antitrust plaintiff must show that the possession of monopoly power “is accompanied by an element of anticompetitive conduct.” Verizon Commc’ns Inc. v. Lato Offices of Curtis V. Trinko, LLP, 540 U.S. 398, 407, 124 S.Ct. 872, 157 L.Ed.2d 823 (2004) (emphasis omitted); see also 2 Julian O. von Kalinowski et al., Antitrust Laws and Trade Regulation (MB) § 25.02, at 25-11-25-14 (2d ed. 2013) (“Section 2 does not outlaw all monopolies. Section 2 does not condemn mere size or market dominance. Nor does monopoly power in and of itself offend Section 2. It is the acquisition, maintenance, or exercise of monopoly power—not its mere existence—-that violates Section 2.” (footnotes omitted)). And there can be no anticom-petitive conduct—that is, harm to competition—in situations where the sole act in question is the replacement of one monopolist by another, as either monopolist can equally “exploit[ ] a monopoly.” See Brunswick Corp. v. Riegel Textile Corp., 752 F.2d 261, 267 (7th Cir.1984). This is why ordinarily the mere act of one monopolist replacing another “is a matter of indifference” to the antitrust laws. Id.; see id. at 266 (“[Ajlthough it hurts the lawful owner of the monopoly power,” the “mere[] shifting of] a lawful monopoly into different hands ... has no antitrust significance.”); Oxford Global Res., Inc. v. Weekley-Cessnun, No. Civ.A.3:04-CV-0330-N, 2004 WL 2599898, at *3 (N.D.Tex. Nov. 12, 2004) (“The antitrust laws ... are completely indifferent to the transfer of existing monopoly power.”). Therefore, in sum, it is clear that a defeated monopolist cannot establish an antitrust injury simply by pointing to the victory of the “substitute monopolist.” See Hovenkamp, supra, at 663; see also Almeda Mall, 615 F.2d at 353-54 (holding that there was no antitrust injury because the “mere substitution” of an electricity reseller for the electric company selling directly to consumers did not affect competition (internal quotation marks omitted)); Digital Sun v. Toro Co., No. 10-CV-4567-LHK, 2011 WL 1044502, at *4 (N.D.Cal. Mar. 22, 2011) (relying on Columbia River to hold that there was no antitrust injury when the holder of an exclusive seller’s license was “simply ... replaced” when the license was transferred to another entity); cf. Four Corners, 582 F.3d at 1226 (holding that the denial of an opportunity “to share in [the defendant’s] putative monopoly” was insufficient to establish antitrust injury because even though “[the plaintiff] ... might be better off with such a shared monopoly, ... there’s no guarantee consumers would be”). The district court correctly discerned the legal import of the genuinely undisputed facts that it identified in the testimony of Dr. Nelson relating to the substitution of one monopolist for another in the Airport’s FBO services market. b The district court also correctly discerned the legal significance of the undisputed material facts regarding the second critical point. Specifically, there was no genuine dispute (as discussed supra) that if there were a period of competition between JetAway and JCP, it would have been a short one. The court rightly determined that this meant that any purported deprivation of consumers of the benefits of such competition was of no material significance for purposes of determining the presence of antitrust injury. Putting the court’s legal conclusion in context, I note that JetAway has argued vigorously that its exclusion from the market had anticom-petitive effects of concern to the antitrust laws because its exclusion prevented consumers from benefitting from what JetA-way expected to be an intense price competition with JCP. In particular, JetAway asserts that there is no dispute that “JetAway’s entry to the market would have led to significant reductions in prices for FBO services at the Airport, if not an all-out price war.” Aplt. Opening Br. at 33; see also Aplt. Reply Br. at 14-15 (“Defendants also claim that even if prices did decrease, such a decrease would last only one year, which is not a sufficient length of time to constitute harm to competition.... [T]his diminishes the competitive importance of the drop in prices that consumers would have enjoyed during that period of time”). In effect, JetAway reasons that Defendants’ purported anticompetitive conduct in excluding JetAway from the Airport’s FBO services market should be found to have harmed consumers and caused an antitrust injury because it denied consumers the benefits (notably, lower prices) of direct competition between JetAway and JCP— even if those benefits would have only been of limited duration (that is, temporary). I find it pellucid, however, that the district court’s contrary reasoning was firmly rooted in settled principles of antitrust law. In divining the presence of an antitrust injury, courts have disregarded temporary anticompetitive effects. See Adaptive Power Solutions, LLC v. Hughes Missile Sys. Co., 141 F.3d 947, 952 (9th Cir.1998) (holding that to establish an antitrust injury, there must be “significant and more-than-temporary harmful effects on competition,” and that the four- to ten-month harm alleged was “temporary” and thus insufficient (quoting Am. Profl Testing Serv., Inc. v. Harcourt Brace Jovanovich Legal & Profl Publ’ns, Inc., 108 F.3d 1147, 1151 (9th Cir.1997)) (internal quotation marks omitted)); Colo. Interstate Gas Co., 885 F.2d at 697 (holding that “unfair methods of competition that only threaten to have a transitory impact on the marketplace” do not violate the antitrust laws). This is because the Sherman Act is concerned only with conduct that has “long-run anti-competitive effects.” Copperweld Corp. v. Independence Tube Corp., 467 U.S. 752, 768, 104 S.Ct. 2731, 81 L.Ed.2d 628 (1984); see Colo. Interstate Gas Co., 885 F.2d at 697 (requiring a § 2 plaintiff “to show that an attempted monopolist’s conduct threatened to create substantial and persistent changes in the marketplace” and recognizing that such a test “may allow some unfair and potentially harmful methods of competition to go unpunished by the antitrust laws” (emphasis added) (footnote omitted)); cf. Adaptive Power Solutions, 141 F.3d at 952 (“To constitute an injury to competition, the restraint must be of significant magnitude and more than trivial.” (citation omitted) (internal quotation marks omitted)). Were temporary effects on competition sufficient, an “ordinary business tort” and an antitrust violation would often be indistinguishable. See IIIB Areeda, supra, ¶ 782a, at 321 (explaining that to avoid invoking § 2 of the Sherman Act “on the basis of torts with insignificant market effects[,] ... [t]he antitrust court must ... insist on a preliminary showing of significant and more than temporary harmful effects on competition”); see also Colo. Interstate Gas Co., 885 F.2d at 697 n. 26 (recognizing that the Sherman Act is not meant to remedy torts and that “[i]n attempting to distinguish between conduct that should be addressed by the antitrust laws and conduct which should be regulated by tort law, ... ‘[t]he antitrust court must ... insist on ... significant and more-than-temporary harmful effects on competition ’ ” (third omission in original) (quoting Phillip Areeda & Donald Turner, Antitrust Law ¶ 737b (1978))); cf. Novell, 731 F.3d at 1079-80 (“Business torts generally, and acts of fraud more particularly, can sometimes give rise to antitrust liability. At least when the defendant’s deceptive actions—usually aimed at third parties in the marketplace—are so widespread and longstanding and practically incapable of refutation that they are capable of injuring both consumers and competitors.” (emphasis added)). In sum, if the effect on competition is not more than temporary or “transitory,” it is of no concern to the antitrust laws. See Colo. Interstate Gas Co., 885 F.2d at 697. Consequently, in discerning the presence of unlawful anticompetitive conduct, courts have focused on the long-term impact of firm conduct on prices, even when the short-term effects might appear (at first blush) to be beneficial to consumers. See Atl. Richfield Co., 495 U.S. at 337 n. 7, 110 S.Ct. 1884 (“Rivals cannot be excluded in the long run by a nonpredatory maximum-price scheme unless they are relatively inefficient.”); id. at 351, 110 S.Ct. 1884 (Stevens, J., dissenting) (“[Njotwith-standing any temporary benefit to consumers, the unlawful pricing practice that is harmful in the long run to competition causes ‘antitrust injury’ for which a competitor may seek damages.”); Cargill, Inc. v. Monfort of Colo., Inc., 479 U.S. 104, 121 n. 17, 107 S.Ct. 484, 93 L.Ed.2d 427 (1986) (“[T]he likelihood that predatory pricing will benefit the predator is ‘inherently uncertain: the short-run loss [from pricing below cost] is definite, but the long-run gain depends on successfully neutralizing the competition ... [and] on maintaining monopoly power for long enough both to recoup the predator’s losses and to harvest some additional gain.’ ” (omission and second and third alterations in original) (quoting Matsushita Elec. Indus. Co. v. Zenith Radio Corp., 475 U.S. 574, 589, 106 S.Ct. 1348, 89 L.Ed.2d 538 (1986))); United States v. AMR Corp., 335 F.3d 1109, 1114 (10th Cir.2003) (same); MCI Commc’ns Corp. v. Am. Tel. & Tel. Co., 708 F.2d 1081, 1181 (7th Cir.1983) (“The most blatant predatory use of monopoly power theoretically is, of course, a quick price cut upon entry until the competitor withdraws, at which time prices are raised back to monopoly levels to recoup the temporary losses sustained.”); see also William J. Baumol, Quasi-Permanence of Pnce Reductions: A Policy for Prevention of Predatory Pricing, 89 Yale L.J. 1, 26 (1979) (“An attempt to provide a universally acceptable definition for a vague term such as ‘predatory pricing’ probably can contribute little. However, the term does relate to a problem that is real and significant—the design of means to permit full and fair competitive measures by the established firm, without foreclosure of entry. The problem clearly involves inter-temporal behavior patterns that cannot be addressed adequately by the comparison of prices and costs at any single moment.” (emphasis added) (footnote omitted)); F.M. Scherer, Predatory Pricing Under Section 2 of the Sherman Act, 89 Harv. L.Rev. 868, 885 (1976) (“The essence of exclusionary pricing is sacrificing profits today to enhance market power, prices, and profits tomorrow. If future prices will be higher relative to costs than they would have been in the absence of today’s price cutting, any correct reckoning of the welfare effects of exclusionary pricing must take into account the future efficiency losses as well as current gains or losses.”). Here, the anticompetitive effects were the product of Defendants’ allegedly improper exclusion of JetAway from the Airport’s FBO services market, where JetA-way would have engaged in head-to-head competition with JCP and purportedly produced lower prices for consumers. But, if that competition and the resulting lower prices would have been temporary, it naturally follows under the controlling law that the anticompetitive effects of Defendants’ conduct that prevented the competition from taking place would have been temporary as well. In other words, the benefits flowing to consumers from a competitive FBO services market and the anticompetitive effects of Defendants’ allegedly unlawful conduct—which prevented such a competitive marketplace from emerging—were, in a sense, two sides of the same coin. And, importantly, the coin was made of perishable stuff. After the competition between JetAway and JCP ceased, the market would naturally have become once again the preserve of a sole monopolistic firm— and, as noted, the existence of a monopoly is not itself anticompetitive or a violation of the antitrust laws. See, e.g., Trinko, 540 U.S. at 407, 124 S.Ct. 872; see generally von Kalinowski, supra, § 25.02. Therefore, under settled principles of antitrust law, the district court correctly reasoned that, because any competition between Jet-Away and JCP in the Airport’s FBO services market would have been of limited duration, the anticompetitive effects associated with the absence of that competition were not a material variable in the antitrust-injury calculus and did not help Jet-Away to establish an antitrust injury. 3 In sum, the foregoing evidence demonstrates that JetAway cannot establish antitrust injury and thus cannot establish antitrust standing. The undisputed evidence reveals that the FBO services market would be controlled by a monopolist because there was insufficient demand for FBO services at the Airport to support two FBO firms. As discussed supra, ordinarily the identity of the monopolist is of no concern to the antitrust laws because the simple act of one monopolist replacing another does not adversely affect competition. See Columbia River, 217 F.3d at 1190; Brunswick Corp., 752 F.2d at 266-68; Hovenkamp, supra, at 663. In the unlikely event that a period of competition between the two conceivable firms—JetA-way and JCP—ensued, it would have been short and would not have had any long-term effects on the FBO services market. Such a brief period of competition would not have altered the competitive landscape. Consequently, like the identity of the monopolist, ordinarily it would be of no concern to the antitrust laws. See Adaptive Power Solutions, 141 F.3d at 952; Colo. Interstate Gas Co., 885 F.2d at 697; see also IIIB Areeda, supra, ¶ 782a, at 321-22. Accordingly, I would hold that JetAway has failed to establish that Defendants’ conduct effected an antitrust injury; therefore, it does not have antitrust standing to bring its antitrust claims. See Tal, 453 F.3d at 1253; Elliott Indus., 407 F.3d at 1124. C Next, I would expressly address and reject two broad lines of argument advanced by JetAway by which it seeks to undermine the district court’s conclusion that it has not established an antitrust injury. 1 Relying on this court’s decision in Full Draw Productions v. Easton Sports, Inc., 182 F.3d 745 (10th Cir.1999), JetAway argues that “[cjonduct that eliminates one of two competitors or excludes a potential competitor from a relevant market harms competition.” Aplt. Opening Br. at 29. I have no doubt that under certain circumstances, such as those in Full Draw, this is true. Such circumstances, however, are not present here. A brief examination of the facts and reasoning in Full Draw demonstrates why its conclusion is not controlling here. In Full Draw, the plaintiff was an archery trade-show promoter who brought an antitrust suit against several defendants who were archery-product manufacturers and distributors and also a trade association to which the other defendants belonged. See 182 F.3d at 747-48. After the plaintiff rejected the trade association’s offer to purchase the plaintiff’s trade show, the trade association began its own trade show to rival the plaintiffs. See id. at 748. Following two years of competition between the two trade-show organizers, the trade association and the other defendants allegedly organized a group boycott of the plaintiffs trade show and drove it from the market. See id. We held that the defendants’ conduct injured competition, stating, “We have no doubt that alleging the loss of one of two competitors in this case alleges injury to competition.” Id. at 754 (emphasis added). According to JetAway, the reasoning of Full Draw prompts the same conclusion here. As was true in Full Draw, says JetAway, there were two competitors in the Airport’s FBO services market—it and JCP—and Defendants’ anticompetitive conduct effectively precluded JetAway from competing in the market. However, the structure of the market in Full Draw was markedly different than the structure here—notably, prior to the commencement of the allegedly anticompetitive conduct, consumers in Full Draw had a meaningful choice between two competitors, and we found this fact to be significant in evaluating whether the defendants’ conduct produced an antitrust injury. In that regard, we reasoned: In particular, as alleged in the second amended complaint, from 1995 to 1997, both [the trade association] and the [plaintiff] competed for customers for their 1997 trade shows. Thus, from the market’s perspective, there were actually two competitors during that period. As a direct result of defendants’ boycott, [the plaintiff] was driven from the market in 1997, thereby depriving consumers of their pre-existing choices in that market. Because defendants’ alleged boycott reduced a competitive market of two producers to a market of one monopolist, [the plaintiff] quite clearly alleged substantial injury to competition from defendants’ group boycott. Id. (emphasis added). It should be patent that the effects of the defendants’ allegedly anticompetitive conduct in Full Draw differ from the effects of Defendants’ allegedly anticompeti-tive conduct on the FBO services market here. As detailed above, the undisputed evidence is that, in all events, there would only be one FBO service provider at the Airport. This was not because of Defendants’ conduct, but because “[t]here is only enough demand for FBO services at the Airport to support one FBO.” Aplt.App. at 3190. The natural composition of the market here consists of one FBO—that is, one monopolist. Thus, unlike in Full Draw, Defendants’ allegedly anticompetitive conduct did not have the effect of “reducing] a ... market of two [service providers] to a market of one monopolist,” 182 F.3d at 754; rather, the structure of the market itself dictated that there could be no more than one firm (i.e., monopolist). In other words, unlike the situation in Full Draw, Defendants’ conduct did not change the composition of the FBO services market such that competition was reduced and an antitrust injury was effected. See Christy Sports, 555 F.3d at 1197-98 (distinguishing Full Draw on the grounds that in Full Draw, the “defendants actively invaded another market through anticompetitive behavior and substantially changed what that market looked like”). More specifically, Defendants’ conduct did not deprive consumers of a meaningful, long-term choice between two competitors. At most, by virtue of their allegedly anticompet