The Maine Savings Amphitheater in Bangor may be sold as part of a pending settlement in an antitrust lawsuit against Ticketmaster and Live Nation.
The Justice Department sued Ticketmaster and its parent company, Live Nation Entertainment, in 2024, accusing them of running an illegal monopoly. The two parties recently reached a tentative settlement in the antitrust lawsuit, which DOJ officials touted as a victory for consumers on Monday.
Part of that settlement would include selling 13 of its venues across the U.S., including the Maine Savings Amphitheater.
Waterfront Concerts, the company that operates the amphitheater, could not be reached by phone Tuesday night and did not immediately respond to an email inquiry for comment.
A “term sheet” spelling out details of the pact said Live Nation had agreed to let venues reach deals that would let a certain portion of tickets be sold by entities other than Ticketmaster. It also would let up to 50% of all tickets to be sold through any ticketing marketplace at amphitheaters that Live Nation owns, operates or controls.
The term sheet also called for Ticketmaster to cap its service fees at those amphitheaters at 15% and to divest ownership or control of 13 amphitheaters, including venues in Milwaukee; Cincinnati; Syracuse, New York; and Austin, Texas. It said Live Nation will create a $280 million settlement fund to settle claims or pay civil penalties to states.
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The settlement includes an eight-year extension of the company’s consent decree with the Justice Department, enabling continuing oversight.
In a statement, Live Nation Entertainment said it was pleased with a settlement that will let other promoters have increased access to multiple markets.
“We have never relied on exclusivity to drive our ticketing business, it has simply been the result of having the best products, services and people in the industry,” said Michael Rapino, president and CEO of Live Nation.
However, many attorneys general in states across the country aren’t as pleased and believe the settlement will not have the desired effect of breaking up a monopoly. Officials in more than 20 states are opposed to the settlement, including Connecticut, Massachusetts, New Hampshire, and Rhode Island, The Associated Press reported.
A spokesperson for Maine Attorney General Aaron Frey did not immediately reply to an email Tuesday night inquiring about his stance on the issue.
The Maine Savings Amphitheater has a capacity of 16,500 people, according to Architect Magazine.
Ticketmaster, which was established in 1976 and merged with Live Nation in 2010, is the world’s largest ticket seller across live music, sports, theater and more.