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DOJ to Announce Antitrust Action Against Live Nation-Ticketmaster on Thursday, Shares Fall 4.4%

May 22, 2024, 11:18 PM

The U.S. Department of Justice (DOJ) plans to announce an antitrust enforcement action against Live Nation Entertainment, the parent company of Ticketmaster, as early as Thursday. The DOJ, along with several states, will file a lawsuit in the Southern District of New York seeking to break up Live Nation and Ticketmaster. The action is based on alleged antitrust violations related to Ticketmaster's control over concert ticket sales. This move aims to address concerns over monopolistic practices and could significantly impact the entertainment industry. Live Nation shares fell by 4.4% in after-hours trading following the news, as reported by Bloomberg News.