Live Nation settlement avoids breakup with Ticketmaster

Source: Engadget

Settlement Overview

Live Nation reached a settlement with the U.S. Department of Justice in its antitrust case that accused the live‑entertainment giant of monopolistic practices. The company will pay at least $200 million in damages to the states that were part of the lawsuit filed in May 2024, while avoiding a forced sale of Ticketmaster.

Business Practice Changes

Ticketmaster, a subsidiary of Live Nation, will be required to create a standalone ticketing system that allows third‑party competitors such as SeatGeek and Eventbrite to sell tickets on the platform.

Venue Divestitures

The settlement also loosens Live Nation’s control over venues. The company must divest up to 13 amphitheaters and is prohibited from retaliating against venues that choose another ticket seller over Ticketmaster.

Ongoing Legal Action

The settlement was announced less than a week after the case went to trial. Although the Justice Department’s involvement ends with the settlement, many state attorneys general will continue their separate legal actions.

“The settlement recently announced with the U.S. Department of Justice fails to address the monopoly at the center of this case and would benefit Live Nation at the expense of consumers,” said New York State Attorney General Letitia James in a press release. “We will continue our lawsuit to protect consumers and restore fair competition to the live entertainment industry.”
26 other attorneys general signed onto continuing the lawsuit with James.

Original article: Engadget