To keep , Live Nation is going to have to make some major changes. As first reported by , Live Nation reached a settlement with the Department of Justice in its antitrust case that accused the live entertainment giant of monopolistic practices. Live Nation will reportedly pay at least $200 million in damages to states that were part of the in May 2024, but avoid selling off Ticketmaster.
Live Nation will also be required to make a few changes to its business practices. According to NBC News, Ticketmaster, a subsidiary of Live Nation, will be required to create a “standalone ticketing system” that allows third-party competitors like SeatGeek and Eventbrite to sell tickets on.
The settlement aims to loosen some of Live Nation’s control over venues as well. According to NBC News, the company will have to divest up to 13 amphitheaters and be prohibited from retaliating against venues that choose another ticket seller over Ticketmaster.
The settlement comes less than a week after the case went to trial. While the matter may be concluded with the Justice Department, many of the states’ attorneys general who were part of the lawsuit will be continuing their legal action separately.
“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,” New York State Attorney General Letitia James wrote in a press release. “We will continue our lawsuit to protect consumers and restore fair competition to the live entertainment industry.” 26 other attorneys general signed onto continuing the lawsuit with James.
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‘ Some details of this article were extracted from the following source www.engadget.com ’
