Live Nation, U.S. Department of Justice reach settlement in antitrust trial
CBC
Live Nation Entertainment has reached a proposed settlement with the U.S. Justice Department, according to a court hearing on Monday.
In the same hearing, it was disclosed that Live Nation is also in talks with state attorneys general to secure a broader, global resolution of related state-level antitrust claims.
Shares of the California-based company are up 4.5 per cent in premarket trading.
Live Nation, Ticketmaster and the DOJ did not immediately respond to Reuters's requests for comment.
Details of the settlement were not immediately made available.
Fans and politicians had intensified calls to examine Live Nation's 2010 acquisition of Ticketmaster after the company subjected Taylor Swift fans to hours-long online queues while charging high prices for tickets to her 2022 Eras tour.
The U.S. Justice Department and more than two dozen states sued to break up Live Nation in May 2024, calling for a sale of Ticketmaster and alleging the companies illegally inflated concert ticket prices and harmed artists.
The trial in the case began last week after a judge in February rejected Live Nation's bid to dismiss the lawsuit.
Live Nation had earlier called the allegations baseless and said the outcome of the trial would do nothing to lower ticket prices for fans.
