Business & Finance
Competitors urge federal judge to reject DOJ antitrust settlement with Live Nation
AEG, SeatGeek, and concert promoter Louis Messina filed comments opposing a proposed agreement that would let Live Nation keep Ticketmaster.
The short version
- Rival firms AEG and SeatGeek, alongside promoter Louis Messina, asked a federal judge to deny the Department of Justice's proposed antitrust settlement with Live Nation.
- The critics argue the agreement's conduct remedies are inadequate and that a full breakup of Live Nation and Ticketmaster is required to restore market competition.
- Live Nation defended the settlement, arguing that the opponents are merely advancing their own business interests and mischaracterizing the terms.
- The presiding judge must determine whether to approve the consent decree or order structural remedies, such as divestiture.
Key facts
- A federal jury previously found Live Nation liable for monopolization in artist promotion, venue ownership, and ticketing in a lawsuit pursued by state attorneys general.[Billboard]
- The DOJ's proposed consent decree permits Live Nation to retain Ticketmaster while imposing rules like non-exclusive ticketing options and sharing back-end ticketing infrastructure.[Billboard]
- AEG and state attorneys general have formally called for the court to order the complete divestiture of Ticketmaster from Live Nation.[Billboard]
- SeatGeek and promoter Louis Messina submitted filings stating that previous behavioural remedies failed to stop retaliatory practices and that the current decree contains loopholes.[Billboard]
- Live Nation denied the monopolization claims, promised to appeal the jury verdict, and maintained that the DOJ agreement provides sufficient consumer relief.[Billboard]