Company announcements, major news outlets

DOJ to Sue Ticketmaster Parent Live Nation for Antitrust Next Month

Apr 15, 2024, 10:15 PM

The U.S. Department of Justice (DOJ) is reportedly preparing to file an antitrust lawsuit against Live Nation, the parent company of Ticketmaster, within the next month. The lawsuit is expected to address allegations that Live Nation, which controls 80% of ticketing at America's large venues, undermines competition in the concert promotion and ticketing industry. This legal action could potentially force Live Nation to spin off its Ticketmaster ticketing business, aiming to dismantle its monopolistic control over the ticketing market. The impending lawsuit, sparked by the Taylor Swift ticketing fiasco, has already impacted Live Nation's stock, which fell 9.7% following the news.