Live Nation reaches surprise settlement with justice department in antitrust case

Live Nation will pay $200m to states in lawsuit, and Ticketmaster will open parts of platform to rival companies

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Live Nation, which owns Ticketmaster, has reached a surprise settlement with the Department of Justice in its antitrust case just one week after the trial began.

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.