Live Nation reaches settlement with DOJ in antitrust fight

Justice Department had accused the company of building an illegal ticketing and events monopoly.

Patrick T. Fallon/AFP via Getty Images

Live Nation has reached a settlement with the Department of Justice in its high-stakes antitrust case less than a week after the trial began, according to three people familiar with the matter.

The deal — expected to be announced Monday — requires Live Nation, which owns Ticketmaster, to pay roughly $200 million in damages to participating states.

The centerpiece of the agreement is expected to be structural changes to Live Nation’s ticketing business. Under the settlement, Ticketmaster will be required to open parts of its platform to rival ticketing companies, allowing third-party sellers such as SeatGeek or Eventbrite to list tickets directly through Ticketmaster’s technology.

© Politico