Live Nation Entertainment is facing a competition lawsuit from the US Justice Department, set to be filed as early as Thursday. The lawsuit is expected to challenge the business practices of the Ticketmaster parent company, with prosecutors aiming to force Live Nation to split off parts of its business or change its operations. The DOJ declined to comment on the matter, and Live Nation has yet to respond to requests for comment.
The federal government will be joined in the legal challenge by state attorneys general, who will allege that Live Nation has squeezed out competitors and limited customer choice, ultimately leading to higher prices. This lawsuit follows a years-long investigation by the DOJ’s anti-trust division, with concerns over Live Nation’s dominance in the live entertainment industry dating back to its 2010 merger with Ticketmaster.
Live Nation Entertainment has faced criticism from fans, lawmakers, artists, and competitors for its influence over live entertainment events in the US and worldwide. News of the DOJ case caused Live Nation’s shares to drop by over 6% in after-hours trading in New York.