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Live Nation has reached a settlement with the Justice Department in an antitrust case that put the entertainment giant at risk of being separated from Ticketmaster.

The ticket vendor’s settlement offer was announced, in a court hearing on Monday, less than a week after the long-awaited trial began. With pending approval from the judge, Live Nation will have to pay damages to the suing states and allow competitors to sell tickets on its platform. Media reports have said the company agreed to pay more than $200 million as part of the settlement.

The settlement caught Judge Arun Subramanian off guard. He said no one informed him of the tentative deal until late Sunday, even though a term sheet for a possible settlement was signed on Thursday, according to the Associated Press.

A 12-person jury was seated last Tuesday in a Manhattan federal courthouse and the trial had reached witness testimony by the end of last week. The complaint was filed in 2024, when the federal government, 39 states including California and the District of Columbia, alleged that Live Nation and Ticketmaster have monopolies in various aspects of the live music industry, such as concert promotion, venue operations, artist management and ticketing services.

Live Nation could not immediately be reached for a comment.

The time has come. After years of ticketing scrutiny, the Department of Justice’s antitrust lawsuit against Live Nation started its trial this week. Here’s what’s at stake.

When the complaint was first filed, the company called the claims “baseless.”

“Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court because it ignores the basic economics of live entertainment,” Live Nation wrote in a previous statement.

Many of the large monopoly claims were thrown out during a pretrial hearing last month, including an allegation that Live Nation’s industry power raises ticket prices and harms consumers. But ever since the two music giants, Ticketmaster and Live Nation, merged in 2010, the companies have been accused of promoting anticompetitive behaviors. Now, this new settlement offers major structural changes to the company’s ticketing services.