Live Nation-Ticketmaster and the Justice Department announced a settlement of a major antitrust case on Monday, averting a lengthy trial.
The settlement, rumored for weeks, comes just as a federal case recently began in New York. The settlement was confirmed by a senior Justice Department official.
Under the terms, Live Nation has agreed to divest up to 13 amphitheaters. Some are owned outright and others are under an extended long-term lease, according to a Justice Department officials.
The Justice Department and 39 states sued Live Nation in 2024, with claims that company had a monopoly across six markets and engaged in anticompetitive behavior across the live event industry. The company owns and operates venues, offers promotion services and sells tickets via Ticketmaster. In its lawsuit, the DOJ had sought a break up of Live Nation and Ticketmaster, which merged in 2010.
Although a number of states joined the settlement, some did not.
New York Attorney General Letitia James vowed to continue the case. She said in a statement, “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.”
James’ office said that other states also continuing the lawsuit are Arizona, California, Colorado, Connecticut, Illinois, Kansas, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Ohio, Pennsylvania, Rhode Island, Tennessee, Utah, Vermont, Virginia, Washington, Wisconsin, Wyoming and the District of Columbia.
The senior Justice Department official said that states were still examining the terms of the settlement, and indicated that more could sign on. “We are confident that we will have double digit states on board,” the official said.
The lawsuit alleged that Live Nation-Ticketmaster punished venues that used more than one ticketer, that it hindered performers’ access to venues and that it bought up competitors, among other things.
More to come.
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