Live Nation Antitrust Penalties Could Arrive in 2027: Court Order

Photo Credit: Sasun Bughdaryan

Will Live Nation be forced to divest Ticketmaster? And if not, what kind of remedies will states secure following their trial win? It looks as though we’ll have to wait – seemingly until sometime in 2027 – to find out.

Judge Arun Subramanian highlighted this likely timetable in a scheduling order today, on the heels of a related hearing yesterday. By now, many are familiar with the litigating states’ aggressive push for relief – including demands for a Live Nation-Ticketmaster split.

Now, the plaintiffs have until May 21st to make the demands (or at least a summary thereof) official with “a preliminary description of the remedies that they will seek,” per the court’s order. From there, Judge Subramanian “will enter a schedule that will govern the timing of the proceedings going forward.”

Said proceedings refer to a full-scale bench trial, complete with a robust discovery process, Courthouse News Service summed up. Meanwhile, the court also emphasized that it “intends to for the most part adopt” Live Nation’s proposed schedule, even if the discovery dates aren’t set in stone.

And according to the noted outlet, this could see the second phase of the marathon courtroom confrontation carry on until next spring.

Before then, Judge Subramanian will oversee a Tunney Act review of Live Nation’s DOJ settlement, with an approval or denial decision tentatively expected for September or October of the current year.

Though much lambasted by some of the litigating states, that federal settlement does contain a number of significant concessions – among them an ordered end to Live Nation’s Oak View Group ticketing deals, a 15% Ticketmaster fee cap at Live Nation amphitheaters, a variety of transparency measures, and hefty penalties for violations of the consent decree.

As for the costs Live Nation’s anticipating as a result of the states’ suit, earlier this week, in its first-quarter earnings report, the live giant identified a $450 million “legal accrual” as its “best estimate of the ultimate loss associated with” the case as well as a settlement with different states.

Time will, of course, tell where the cards fall here; the next hearing in the states’ antitrust battle is scheduled for July 30th. More immediately, it seems safe to say that the market isn’t particularly concerned about the situation; Live Nation shares finished the week at roughly $163 a pop, up over 21% from early May 2025.