Live Nation reaches surprise settlement with justice department in antitrust case

"Under the agreement, Live Nation will pay roughly $200m in damages to states that participated in the lawsuit, and Ticketmaster will be required to open parts of its platform to rival ticketing companies. The agreement also will require Ticketmaster to divest from some of the amphitheaters it owns and cap service fees for its venues at 15% of the ticket price."

"An attorney for New York State told jurors last week that Ticketmaster keeps an average of $7.58 of the price of each ticket for events at major concert venues, claiming the concert ticket conglomerate dominates live-event markets, harming artists, venues and fans."

"The settlement recently announced with the US 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, James in a statement. My attorney general colleagues and I have a strong case against Live Nation, and we will continue our l"

Live Nation, which owns Ticketmaster, reached a settlement with the Department of Justice in an antitrust lawsuit just one week after trial began. The agreement requires Live Nation to pay approximately $200 million in damages to participating states and mandates that Ticketmaster open portions of its platform to rival ticketing companies. Ticketmaster must divest from certain amphitheaters it owns, cap service fees at 15% of ticket prices, and limit long-term exclusivity contracts with venues. Ten state attorneys general have agreed to the settlement, though New York's attorney general Letitia James rejected it, arguing the settlement fails to address the core monopoly issues and benefits Live Nation at consumers' expense. A judge must still approve the final terms.

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