"Live Nation would pay a fine of up to $280 million and divest itself of at least 13 amphitheaters across the country as it opens up its ticketing processes so that competitors can share in the sale of tickets, the official said. The official called it a "win-win for everybody" that will bring immediate relief for consumers and protect venues from retaliation when they choose companies other than Live Nation to handle tickets or promotions for events."
"New York Attorney General Letitia James said in a statement the Justice Department deal "fails to address the monopoly at the center of this case" and that she would not agree to it. "My attorney general colleagues and I have a strong case against Live Nation, and we will continue our lawsuit to protect consumers and restore fair competition to the live entertainment industry," James said."
"Judge Arun Subramanian called it "entirely unacceptable" that no one informed him of the tentative deal until late Sunday. A term sheet for the expected settlement was signed on Thursday, he said."
The Justice Department announced a tentative settlement in its antitrust case against Ticketmaster and parent company Live Nation Entertainment. Under the proposed deal, Live Nation would pay up to $280 million in fines and divest at least 13 amphitheaters nationwide. The settlement aims to open ticketing processes to competitors and prevent venue retaliation for choosing alternative ticketing companies. However, multiple states, including New York, rejected the settlement and plan to continue litigation. New York Attorney General Letitia James stated the deal fails to address the core monopoly issues and vowed to pursue the case further to restore fair competition in live entertainment.
#antitrust-settlement #ticketmaster-monopoly #live-nation-entertainment #ticket-pricing #consumer-protection
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