Live Nation Entertainment Inc. settled with federal antitrust authorities in a lawsuit that accused the company of illegally monopolizing the live music industry, the Justice Department said Monday.
The deal was announced during a hearing Monday, but few details were provided. Bloomberg News previously reported that The parties were close to reaching an agreement that would not force Live Nation to sell its Ticketmaster subsidiary.
The settlement agreement will still have to be signed by the judge.
The agreement would open up parts of Live Nation’s ticketing division to outside sellers and make it easier for other promoters to put on shows at amphitheaters that Live Nation controls, according to people familiar with the matter who asked not to be identified because they are confidential matters.
The trial, which started in New York last week,It stems from the Justice Department’s 2024 lawsuit seeking to break up the company by forcing the sale of Ticketmaster.
Live Nation has faced years of antitrust scrutiny for its 2010 acquisition of Ticketmaster, which was approved by the Obama administration and then questioned as inadequate by rivals, legislators and fans.
The current case was filed during the Biden administration and was brought to trial this month by President Donald Trump’s Justice Department. The merged company also came under scrutiny during the first Trump administration.
In the lawsuit, Live Nation and Ticketmaster are accused of engaging in a variety of anti-competitive practices, including tying venues to exclusive long-term ticketing contracts and retaliating against competitors and venues seeking alternatives. The Justice Department and the states also claim that Live Nation has monopolized the market for large outdoor amphitheaters in the United States.
Some of the state attorneys general who signed the case have indicated that They also plan to join the agreement, Bloomberg reported.
Under the terms of the agreement, Live Nation would pay monetary damages to states participating in the settlement, according to one of the people.
