Live Nation reaches settlement in US monopoly case

The live events company, which owns Ticketmaster, will open parts of its business to rival companies.

Live Nation, owner of Ticketmaster, has agreed to a $280 million settlement with the Department of Justice, requiring Ticketmaster to open parts of its platform to rival companies and divest from exclusive booking agreements with 13 U.S. amphitheaters.

Live Nation has reached a settlement with the Justice Department in an antitrust case, agreeing to pay $280 million in damages and allowing competitors to sell tickets on its platform, pending court approval.

Under the settlement, Live Nation agreed to pay $280 million in civil penalties to 40 states and to sell some of its amphitheaters. Ticketmaster must also open technology to allow other ticket sellers to use its platform to reach customers.

Live Nation and Ticketmaster have struck a settlement deal with the Justice Department, abruptly ending a landmark antitrust trial less than a week after it began, with the settlement amount ranging from $200-$280 million in civil penalties across the 40 states that sued the event company for creating a ticket sales monopoly.

The settlement between Live Nation and the Department of Justice has been met with skepticism and anger, with critics arguing that it fails to adequately address anticompetitive practices and protect consumers from high ticket prices.