North America Antitrust Digest | March 2026

A quick look at the top headlines in Antitrust and Competition

1. DOJ Abruptly Exits Live Nation-Ticketmaster Trial 

2. Congress Increases Scrutiny of Ag Sector Competition  

3. FGS Global x Semafor Antitrust in Action 2026 

DOJ Abruptly Exits Live Nation-Ticketmaster Trial

Just one week into trial before Judge Arun Subramanian in Manhattan federal court, Live Nation and the DOJ announced a settlement in the government’s monopolization lawsuit, sparing Live Nation from the breakup the DOJ had sought. 

The Deal 

Under the eight-year agreement, Live Nation will divest control of 13 amphitheaters, open its Ticketmaster platform to competitors like SeatGeek and StubHub, and end exclusivity arrangements—with 50% of tickets at non-exclusive venues reserved for competing services and fees capped at 15%. The deal also extends the existing consent decree for eight years and requires Live Nation to pay up to $280 million in damages to the states, contingent on their agreement. Critically, Ticketmaster itself will not be divested—the full breakup the government sought when it filed suit in May 2024 is off the table. 

How We Got Here 

In 2010, the DOJ cleared Live Nation's acquisition of Ticketmaster, subject to a consent decree barring retaliation against venues using competing ticketers. After identifying six alleged violations, the DOJ in 2020 amended and extended the decree for an additional five and a half years. The failed Taylor Swift Eras Tour presale in November 2022 drew widespread criticism and congressional hearings, leading to the May 2024 complaint.   

The Settlement’s Troubled Arrival 

The settlement surprised both the court and DOJ lead counsel. Court filings show Acting AAG Omeed Assefi met with Live Nation CEO Michael Rapino on March 5 to negotiate and sign the deal while the trial was still underway. When disclosed on March 9, Judge Subramanian ordered both to appear. As reported in last month’s Special Alert, settlement discussions had reportedly been taking place outside the involvement of then-AAG Gail Slater, a dynamic that contributed to her resignation in February 2026.   

The States Might Not be Done 

New York Attorney General Letitia James announced that her office will not join the settlement, stating it “fails to address the monopoly at the center of this case.” She is joined by over 20 other state AGs, including those from California, Illinois, Massachusetts, Michigan, New Jersey, and Pennsylvania. On March 10, a coalition of 26 states plus D.C. moved for a mistrial, alleging the DOJ’s secret negotiations with Live Nation had tainted the proceedings and that they were kept entirely in the dark about settlement talks.  

What This Could Mean:  

The settlement closes the federal chapter, but Ticketmaster survives intact; the deal still requires court approval, and more than half the original plaintiff states actively oppose it. 

More broadly, the DOJ’s willingness to accept behavioral remedies (conduct restrictions, fee caps, non-exclusivity requirements) rather than structural divestiture marks a shift from even the first Trump Administration’s enforcement posture, suggesting openness to negotiated commitments over forced breakups. That said, state AGs remain independently empowered and willing to press forward where they believe federal remedies fall short. We expect increased activity, especially from Democratic attorneys general, in antitrust enforcement and merger cases going forward. 

Developments and deals to watch

Congress Increases Scrutiny of Agriculture Sector Competition 

Bipartisan pressure is mounting over consolidation and pricing in the agricultural supply chain. While the Trump administration’s Executive Order directing DOJ and FTC investigations remains a focal point, Congress is pursuing several parallel tracks: 

• Meat Industry Breakup Legislation: Senate Democrats are preparing legislation to de-consolidate the meatpacking sector that would reportedly seek to reverse decades of horizontal integration by the “Big Four” meatpackers.  

• Scrutiny of Foreign Influence and "Greedflation": Earlier in February, Senate Majority Leader Chuck Schumer (D-NY) criticized the Trump administration for failing to address foreign influence and consolidation in U.S. agriculture, linking national security concerns to “skyrocketing” grocery prices—signaling Democrats will frame food inflation as a corporate concentration issue ahead of the 2026 midterms. 

• Renewed Focus on Pricing Bias and Robinson-Patman Enforcement: Republican senators led by Judiciary Committee Chair Chuck Grassley (R-IA) urged the DOJ and FTC to revive enforcement of the Robinson-Patman Act to protect smaller businesses from dominant chains’ pricing leverage. Separately, Senator Elizabeth Warren (D-MA) led Democrats in a letter pressing the FTC to investigate “pricing bias” by large CPG companies, including PepsiCo.  

• Fertilizer Market Price-Fixing Probe: The DOJ has reportedly launched an investigation into potential price-fixing in the U.S. fertilizer market, following calls from agricultural groups and lawmakers to examine whether dominant producers have kept input costs artificially high. 

  
  

Bottom Line: With affordability a key 2026 midterm theme, companies should expect heightened scrutiny of consolidation and anticompetitive conduct across the food and agriculture sector. 

Essential insights and analysis

Antitrust in Action 2026 

With enforcement priorities shifting, new leadership at the Antitrust Division, and major cases moving through the courts, hearing directly from the enforcers shaping the competition landscape has never been more important. Practitioners can do exactly that at our upcoming event, Antitrust in Action 2026, featuring Acting AAG Omeed Assefi and other key voices in the space. For details and to register, visit fgsglobal.com/antitrust-in-action-2026.