Following the surprising news that a settlement had been reached during one of the most significant antitrust trials in recent decades, Ray Seilie spoke with NBC about how Live Nation came to an agreement with the Department of Justice that prevents the company from having to break apart from Ticketmaster, which it also owns.
The antitrust claims stemmed from several states alleging Live Nation has an illegal monopoly over music events through venues, ticketing, and artist promotion. The trial was watched closely, as one possible outcome would have been a forced breakup between Live Nation and Ticketmaster.
Ray tells NBC that unwinding these two closely integrated companies would have been a complicated and lengthy process, sharing that “In an antitrust case, a breakup is a pretty drastic measure.”
“Usually what you see is the court identifying certain practices that need to change rather than undoing the entire merger,” Ray continues.
The agreement between Live Nation and the DOJ is said to include measures that will help drive down prices for both consumers and artists, and provide a standalone ticketing platform that will allow third parties to offer tickets through the platform.
