Will Live Nation Get Away With It?

Michael Rapino
"Michael Rapino’s Achilles’ heel, however, is power, and his obsession with identifying and eliminating competitive threats. We saw it in emails cited in the D.O.J.’s original complaint," says Dave Brooks. Photo: Michael M. Santiago/Getty Images
Eriq Gardner
March 24, 2026

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On Wednesday, the states pressing to break up Live Nation will rest their case in Manhattan federal court, concluding a years-long, herculean effort to prove that the ticketing and concert promotion company ran an illegal monopoly. In a surreal twist, the Trump administration already threw in the towel earlier this month, when a visibly startled Justice Department lawyer informed an equally startled judge that they had apparently reached a settlement that would allow Live Nation to keep Ticketmaster. Some state attorneys general took the cue and claimed a share of the $200 million payout. But 32 others—including New York, Florida, and Texas, along with the District of Columbia—are still fighting on, bringing in fearsome antitrust litigator Jeffrey Kessler and hoping for a result that could appease the Swifties.