Live Nation Reached a Deal to Settle DOJ's Antitrust Lawsuit

"Ticketmaster will let rival third-party companies (think SeatGeek, StubHub, and Eventbrite) use its technology to sell tickets on a stand-alone platform. A senior Justice official described it to NBC as "open sourcing" Ticketmaster's ticketing model. And that's not the only change: Ticketmaster's long-term exclusivity contracts with venues have been limited to four years, while venues will be allowed to reserve some tickets for competing ticketing platforms."

"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. We cannot 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."

"Live Nation will reportedly also divest 13 of its amphitheaters and reserve half of its tickets for nonexclusive venues. Live Nation has even agreed to pay out $280 million in civil penalties to the states that sued alongside the government."

Live Nation reached a settlement with the U.S. Department of Justice in an antitrust case that threatened to break up the company. Under the agreement, Ticketmaster must allow rival ticketing platforms like SeatGeek, StubHub, and Eventbrite to access its technology for standalone ticket sales. Long-term venue exclusivity contracts are capped at four years, and venues can reserve tickets for competing platforms. Live Nation will divest 13 amphitheaters and reserve half its tickets for nonexclusive venues. The company also agreed to pay $280 million in civil penalties. However, more than two dozen states, including New York and the District of Columbia, rejected the settlement and continue pursuing separate litigation, arguing it fails to address the core monopoly issues.

Read at Vulture