The Justice Department announced Monday that it may have reached a settlement in its antitrust lawsuit against Ticketmaster and parent company Live Nation Entertainment.
Though nothing is confirmed yet, the DOJ announced in Manhattan federal court that the case was likely nearing a conclusion after the term sheet was signed on Thursday, per the Associated Press.
An unnamed official told the outlet that the terms included Live Nation paying a fine of up to $280 million and divesting some properties to allow for more competition in the ticket sales industry. The official said the settlement was a “win-win for everybody.”
Certain states were allegedly not on board with the proposed terms, however, and Judge Arun Subramanian called the terms “entirely unacceptable.”
New York Attorney General Letitia James said in a statement that the settlement “fails to address the monopoly at the center of this case.”
“My attorney general colleagues and I have a strong case against Live Nation, and we will continue our lawsuit to protect consumers and restore fair competition to the live entertainment industry,” she said, adding that she preferred to move forward with the trial.
Washington State Attorney General Nick Brown has a similar take, saying, “[the] case against Live Nation is strong, and the state coalition is committed to holding the company accountable for its illegal behavior, protecting consumers and restoring competition to this market,” the outlet noted.
The lawsuit was originally filed in 2024 under the Biden administration, as WSJ reported. About 40 states came together to sue the entertainment company.
U.S. Justice Department lawyer David Dahlquist summarized the charges during opening statements last Tuesday, as The Daily Wire previously reported.
“This case is about power, the power of a monopolist to control competition,” Dahlquist said. “Today, the concert ticket industry is broken.”
Attorney David Marriott, who is representing Live Nation, said it wasn’t so. “We’ll let the numbers do the talking. We do not have monopoly power,” he said in response.
The complaint alleges that the company engages in “anticompetitive conduct” that results in higher fees, fewer opportunities for artists, and limited ticketing options. The filing occurred after the infamous 2022 incident when Taylor Swift’s Eras Tour pre-sale tickets caused the Ticketmaster site to crash, with thousands of fans — and bots — swarming the site all at once.
This Taylor Swift incident led to congressional hearings beginning in January 2023.
Ticketmaster was founded in 1976 and merged with Live Nation in 2010. Over the years, the company has clashed with fans and artists, with many accusing the company of having predatory prices. The rock band Pearl Jam testified before Congress on the issue all the way back in 1994, but their efforts ultimately led nowhere.
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