Live Nation Entertainment has reportedly reached a settlement with the US Department of Justice in the antitrust case that had threatened to break up the company from its subsidiary Ticketmaster.
That’s according to a Politico report on Monday (March 9), citing three people familiar with the matter.
According to Politico, the deal is expected to be announced later on Monday (March 9) and will require Live Nation ‘to pay roughly $200 million in damages to participating states’.
The settlement’s ‘centerpiece’, per the outlet’s sources, is a package of ‘structural changes’ to Live Nation’s ticketing business, including opening parts of its platform to rival ticketing companies, alongside new limits on venue exclusivity contracts. The deal would also require the firm to divest more than 10 amphitheaters, and includes a cap on service fees at Live Nation amphitheaters, according to Politico.
The Politico report follows an earlier story from Bloomberg, which reported on Monday morning that a settlement was close and could be announced within days, citing people with knowledge of the matter.
Since the lawsuit was filed in 2024, the headline outcome had always been the potential forced separation of Live Nation and Ticketmaster — an unwinding of the 2010 merger that the government had sought to reverse.
Bloomberg reported that any potential deal would allow Live Nation to avoid divesting Ticketmaster.
Bloomberg also reported that a settlement could see Live Nation agree to eliminate some exclusivity in ticketing contracts with concert venues and make concessions on how it controls access to its amphitheaters.
Settlement discussions have reportedly accelerated since the trial began on March 2 in Manhattan.
Bloomberg noted that a settlement would pause the trial for participating states, but that it’s unclear how proceedings would continue for any states that do not sign on to the deal.
The US Department of Justice sued Live Nation and Ticketmaster in May 2024, joining attorneys general from dozens of states and the District of Columbia. They accused the ticketing giant and Ticketmaster of “monopolization and other unlawful conduct that thwarts competition in markets across the live entertainment industry.” In August 2024, an additional 10 states joined the lawsuit.
The complaint accused Live Nation of illegally dominating the live events industry across six different markets, including concert promotion, venue ownership, concert-booking, and primary ticketing.
The lawsuit sought to dismantle Live Nation by forcing a sale of Ticketmaster. Bloomberg noted that a breakup might be off the table if a settlement is reached, but that agreement would still require approval from Judge Arun Subramanian, who is presiding over the case in the Southern District of New York. The judge will have to determine whether the settlement serves the public interest.
The trial kicked off last week with pointed arguments from both sides. DOJ attorney David Dahlquist told jurors that Ticketmaster controls over 80% of primary ticketing at major concert venues, with its closest rival holding just 9%. Live Nation attorney David Marriott disputed the claim, arguing that when all venues are counted, Live nation’s ticketing market share falls to around 40%, and that the company clears less than $2 per ticket after expenses.
Judge Subramanian had already trimmed the government’s case before trial began, dismissing claims that Live Nation monopolizes national concert promotion and that its conduct directly drove up ticket prices for fans. Three other claims remained: the venue contracts, the amphitheater tying arrangement, and a specific ticketing deal with Oak View Group.
In the weeks leading up to the trial, Live Nation launched a barrage of last-ditch motions: requesting reconsideration, seeking an interlocutory appeal, asking to bifurcate the trial, and challenging the states’ damages expert. As MBW reported, the DOJ called the delay bid a “desperate plea” and argued it was “statutorily barred.”
In a February 27 opinion (which you can read in full here), Judge Subramanian denied all four motions in a single order.
The trial had been expected to last five to six weeks and was set to feature testimony from a parade of music industry figures, including Live Nation CEO Michael Rapino, Live Nation president Joe Berchtold, SeatGeek CEO Jack Groetzinger, AEG Presents CEO Jay Marciano, Roc Nation’s Desiree Perez, and Mumford & Sons’ Ben Lovett. Kid Rock — who told a Senate hearing in January that the Live Nation-Ticketmaster merger ‘has failed miserably’ — was among the few performing artists cited in court filings, though he is currently working with Live Nation for his latest tour. The reported settlement would halt those proceedings abruptly, less than a week in.
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