Live Nation has reached a settlement with the Justice Department in its antitrust case.
The resolution was announced by the company and the Justice Department today after a week-long trial that threatened to separate the concert giant and its ticketing subsidiary, Ticketmaster, in one of the U.S.’ most famous antitrust cases in decades.
Under the terms, Live Nation has agreed to allow venues to use multiple vendors to sell tickets instead of working exclusively with Ticketmaster, and to allow touring artists to work with other outside promoters when playing Live Nation-owned amphitheaters, The New York Times reports.
The New York Times also reports that Live Nation will pay up to $280 million in damages to be split among the states that joined the settlement, divest up to 13 amphitheaters, and reserve 50% of tickets for nonexclusive venues moving forward.
In May 2024, the Justice Department filed a lawsuit accusing Live Nation of operating an illegal monopoly and sought to break up the company by forcing it to divest its ownership stake in Ticketmaster. Though the DOJ allowed the companies’ merger in 2010, it accused the company of stifling competition by intimidating artists and venues into using its ticket services and raising prices on millions of ticket sales. Live Nation has consistently denied the allegations.
Although several states have joined the DOJ in signing the settlement, other states may continue to pursue their own claims. Currently, 26 states, including Washington, D.C., have requested a motion for a mistrial, per NBC News.
Read more about the case here via The New York Times.
Featured image courtesy: Live Nation. Credit: Dan Jacobs.