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(Des Moines, IA) -- An antitrust lawsuit filed by Iowa is being settled by Live Nation, parent company of Ticketmaster.
The lawsuit accused the company of inflating concert ticket prices by requiring artists and venues to exclusively use Ticketmaster.
Live Nation has agreed to settle the suit filed by Iowa and another filed by the Department of Justice.
"Live Nation and Ticketmaster were hurting competition,” said Iowa Attorney General Bird.
“The amount of control they had over artists, concerts, venues, and promotions needed to be addressed so the entertainment industry in Iowa can remain strong and Iowa concert goers don’t have to pay higher prices. We’re happy the settlement makes the market fairer and means Iowans can pay lower ticket prices to attend concerts and events," said Bird.
Bird and 39 other attorneys general filed the antitrust suit. Live Nation has agreed to settle with several states, including Iowa.
The settlement agreement allows venues and artists in Iowa to choose different ticketing vendors.
It also requires Live Nation/Ticketmaster to pay Iowa $3 million.