US ticketing giant Live Nation reached a tentative settlement with the Department of Justice on Monday to avoid a breakup with its controversial platform Ticketmaster.
The outcome, which had already prompted the ouster of the US’ top antitrust enforcer, outraged dozens of states attorneys general and venue operators. The federal judge overseeing the case also appeared to be blindsided by the settlement.
Americans’ leisure spending on outings like concerts has been strong post-pandemic — Live Nation’s latest earnings got a boost from bigger and more international shows; analysts expect the company can easily make up the $200 million in damages it owes under the settlement.