March 9 (Reuters) – Live Nation Entertainment is close to settling a federal antitrust lawsuit in a deal that would avoid the sale of its Ticketmaster unit, Bloomberg News reported on Monday, citing sources.
The U.S. Justice Department (DOJ) and more than two dozen states sued to break up Live Nation in May 2024, calling for a sale of Ticketmaster and alleging the companies illegally inflated concert ticket prices and harmed artists.
Some of the state attorneys general have signaled they also plan to join the settlement, the report added, adding that a final agreement could be announced in the coming days.
The trial in the case begun last week after a judge in February rejected Live Nation’s bid to dismiss the lawsuit.
Live Nation Entertainment, Ticketmaster and the DOJ did not immediately respond to Reuters request for comment.
(Reporting by Angela Christy in Bengaluru; Editing by Sumana Nandy and Mrigank Dhaniwala)
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