Live Nation settles with DOJ, will sell concert venues, cap fees
USA TODAY
Live Nation has agreed to sell up to 13 of its concert venues and put a 15% cap on service fees for event organizers.
Live Nation and the Department of Justice have reached a settlement, after the department accused the live entertainment giant of operating an illegal monopoly over the industry.
Live Nation has agreed to settle with the department in a deal that includes the sale of up to 13 of its amphitheaters nationwide and puts in place a 15% cap on service fees for people who want to use the venues, according to a senior Justice Department official.
Ticketmaster, a subsidiary of Live Nation, is also required to offer its technology to other ticket sellers, such as StubHub, in order to reach customers. Live Nation is also not allowed to retaliate against a venue that picks a primary ticketer other than Ticketmaster.
The senior DOJ official said the settlement includes a civil fine to be paid by Live Nation, but the amount of the fine remains unclear. It would be $280 million if the settlement involves all the states that are part of the lawsuit, the official said. However, the $280 million figure "may change" based on how many states actually sign onto the settlement.
New York Attorney General Letitia James has already announced her state will not agree to the DOJ's settlement, and instead will continue its lawsuit against Live Nation.
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