(AFP) – Live Nation reached a tentative settlement with the US Justice Department on Monday in the federal antitrust case brought against the entertainment giant. The settlement, which still requires the approval of District Judge Arun Subramanian, comes just days after the antitrust trial began in New York. The case was initiated under then-president Joe Biden, with prosecutors accusing Live Nation — which owns Ticketmaster — of being a monopolist that controlled virtually all live entertainment in the United States.
The settlement requires Live Nation to open up its ticketing platform to competitors and to allow other promoters to stage events at certain Live Nation venues, a senior Justice Department official said. Live Nation will divest up to 13 amphitheaters and pay $280 million in damages to the nearly 40 states that were parties to the antitrust lawsuit against the California-based company, according to the official. The increased competition should result in ticket prices coming down, the official added.
Live Nation shares surged nearly six percent on the New York Stock Exchange following the announcement. However, New York and a number of other states declined to join the settlement and announced on Monday that their litigation against Live Nation would continue. “For years, Live Nation has made enormous profits by exploiting its illegal monopoly and raising costs for shows,” New York Attorney General Letitia James stated.
James criticized the settlement, saying, “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.” She emphasized the state’s commitment to pursuing justice: “We will keep fighting this case without the federal government so that we can secure justice for all those harmed by Live Nation’s monopoly.” A spokesperson for the New York attorney general, a Democrat, mentioned that prosecutors would file a motion with the court seeking a mistrial and bring a new case against Live Nation solely by the states.
The Justice Department official indicated that talks with a number of the states were ongoing and expressed hope that some of them would eventually agree to the settlement.
Live Nation is a behemoth in its industry: in 2025, it organized more than 55,000 events worldwide, drawing 159 million attendees. Beyond promotion, it holds stakes in 460 venues and, since 2010, has controlled Ticketmaster, the world’s leading ticket seller. The Justice Department had accused Live Nation of abusing its dominant position to pressure artists and venues into signing with it, stifling competition, and imposing excessive fees on fans.
The Trump administration’s decision to press forward with the case against Live Nation had surprised many observers, especially following the recent resignation of Justice Department competition chief Gail Slater, which led some to believe the case would be dropped. Democratic Senator Elizabeth Warren condemned the settlement in a post on X, stating, “Donald Trump just betrayed every fan who’s been exploited by Ticketmaster.” She criticized the fine, noting that it was less than one percent of Live Nation’s revenue last year and asserted the need to break up Ticketmaster and Live Nation.
John Kwoka, a professor of economics at Northeastern University, described the settlement as “inadequate.” He noted, “It does not deal with the fact that Ticketmaster is still an integrated company that has incentives that remain pretty much intact to disadvantage competitors.” He concluded, “This is a minor accomplishment in the face of what the Justice Department laid out as a course of business.”
© 2024 AFP
