Live Nation Pushes for DOJ Settlement After Judge Narrows Antitrust Case

Live Nation has called on the US Department of Justice to settle its antitrust lawsuit against the company and its subsidiary Ticketmaster, a day after a federal judge narrowed the scope of the government’s case.

In a statement published February 19th per Music Business Worldwide — the same day the company reported record annual revenues of USD $25.2 billion — Live Nation’s EVP of Corporate and Regulatory Affairs Dan Wall said the company is ready to reach a deal with the DOJ and state attorneys general, arguing that the prospect of a court-ordered breakup is no longer viable.

Wall’s comments follow a February 18th ruling from US District Judge Arun Subramanian, who dismissed claims that Live Nation monopolised the concert promotion market. However, the court allowed other claims to proceed to trial, including allegations related to Ticketmaster’s dominance in venue-facing ticketing and Live Nation’s policy of tying access to its amphitheatres to its promotion services.

Jury selection remains scheduled to begin March 2nd.

Seizing on the dismissal of the concert promotion claims, Wall wrote that the decision “undermines any serious argument for breaking up Live Nation and Ticketmaster.”

“Cases in this posture nearly always settle, and with the prospect of structural relief off the table, that is what should happen in this case now,” he said. “Live Nation is ready to make that happen with DOJ and any State Attorney General committed to realistic, common-sense solutions to the remaining issues.”

Wall argued that separating Live Nation from Ticketmaster “would not serve any remedial purpose, let alone be a legally permissible remedy,” characterising the remaining issues as focused on long-term exclusive ticketing contracts, a specific ticketing arrangement with Oak View Group, and Live Nation’s policy of not renting its amphitheatres to rival promoters. In his view, those claims, individually or collectively, would warrant injunctive relief rather than a structural breakup.

The DOJ, joined by 39 US states and the District of Columbia, filed the lawsuit in May 2024, alleging monopolistic conduct across the live entertainment ecosystem.

Not all plaintiffs appear inclined to settle. Following the court’s ruling, New York Attorney General Letitia James said her office would continue pursuing the case regardless of the DOJ’s next move.

Wall also referenced the origins of the case under the Biden administration, criticising early public calls for a breakup and asserting that the DOJ has failed to demonstrate that the 2010 Live Nation–Ticketmaster merger led to higher ticket prices.

The legal manoeuvring comes as Live Nation posts another record year.

For 2025, the company reported total revenue of USD $25.2 billion, up 9% year-on-year, operating income of USD $1.25 billion (up 52%), and adjusted operating income of USD $2.37 billion (up 10%).

A record 159 million fans attended Live Nation-promoted shows across 55,000 concerts globally, an increase of eight million year-on-year. For the first time, attendance outside the US surpassed domestic figures, underscoring the company’s accelerating international footprint.

Concert adjusted operating income rose 30% to USD $687 million, delivering a margin of 3.3%. Fourth-quarter revenue climbed 11% year-on-year to USD $6.3 billion.

Looking ahead, Live Nation said 67 million fans have already purchased tickets for 2026 shows, with 80% of large venues booked. CEO Michael Rapino projected another year of double-digit operating income and AOI growth, citing strong global demand and a deep pipeline of large-scale tours.

Notably, the company’s earnings report at no point referenced the ongoing antitrust litigation.