Live Nation has reportedly reached a settlement with the US Department of Justice in its competition case.
The legal case had the potential to separate Live Nation and its subsidiary operation Ticketmaster – respectively, the world’s largest live entertainment company and ticketing platform.
According to multiple reports in US media, the settlement means that Live Nation will pay around $200 million in damages to the 40 US states who have participated in the lawsuit.
The settlement is also set to open parts of Ticketmaster's platform to rival firms, as well as placing limits on venue exclusivity contracts. It also includes a cap on services fees and the requirement to divest a number of amphitheatres in the US.
Live Nation has yet to comment.
The Biden administration filed its lawsuit against Live Nation in 2024, alleging unfair dominance of the US concert business. In addition, dozens of US states joined the legal action.
It followed a lengthy investigation into the live music giant’s business practices by the DOJ’s anti-trust division.
The company has faced criticism from artists and fans over ticketing fees, while Live Nation had to apologise during a Senate Judiciary Committee for the Taylor Swift Eras Tour ticketing debacle.
Live Nation recently announced record full-year revenue of $25.2 billion.
