DOJ Settles With Live Nation, Will Ask for Ticketmaster Deal Extension
DOJ will ask a federal court to extend a 2010 consent decree on Live Nation’s buy of Ticketmaster until 2025, the department announced Thursday. After a settlement with Live Nation, the Antitrust Division will ask U.S. District Court in Washington…
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to clarify and extend for five and a half years the final judgment in U.S. v. Ticketmaster. The final judgment allowed the transaction but prohibited “the company from retaliating against concert venues for using another ticketing company, threatening concert venues, or undertaking other specified actions against concert venues for ten years.” DOJ claims Live Nation repeatedly violated the order, and the company agreed to modify the judgment to “make clear that such conduct is prohibited.” The company said, “We believe this is the best outcome for our business, clients and shareholders as we turn our focus to 2020 initiatives.” The stock closed up 9.2 percent at $69.83.