Live Nation to open Ticketmaster to other sellers and pay $280 million to settle antitrust charges

Live Nation, the parent company of Ticketmaster, has reached a deal with the Department of Justice to settle charges that the entertainment company’s dominance in the event ticket business undermined competition and hurt consumers.

Under the settlement, Live Nation agreed to pay $280 million in civil penalties to 40 states that sued the company over its practices. Ticketmaster must also open technology to allow other ticket sellers to use its platform to reach customers, multiple sources told CBS News.

—This is a developing story and will be updated