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Live Nation reaches surprise settlement with justice department in antitrust case (www.theguardian.com)

submitted 1 week ago by pelespirit@sh.itjust.works to c/politics@sh.itjust.works

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The settlement was announced during a court hearing Monday morning. Under the agreement, Live Nation will pay roughly $200m in damages to states that participated in the lawsuit, and Ticketmaster will be required to open parts of its platform to rival ticketing companies, reported Politico.

The agreement also will require Ticketmaster to divest from some of the amphitheaters it owns and cap service fees for its venues at 15% of the ticket price. The agreement also limits long-term exclusivity contracts utilized by Ticketmaster when partnering with venues.

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