DOJ to File Antitrust Lawsuit Thursday to Break Up Live Nation-Ticketmaster

May 23, 2024, 01:10 AM

The U.S. Department of Justice (DOJ) is set to file an antitrust lawsuit against Live Nation Entertainment, the parent company of Ticketmaster, as early as Thursday. The lawsuit, which will be joined by several state attorneys general, seeks to break up Live Nation and Ticketmaster over alleged antitrust violations related to Ticketmaster's control over concert ticket sales. This move follows significant scrutiny and investigation into the company's market dominance, particularly after the 2010 merger of Live Nation and Ticketmaster. Live Nation's shares fell over 6% in after-hours trading following the news. The lawsuit is expected to be filed in the Southern District of New York. Bloomberg News reported that Live Nation controls over 80% of primary ticket sales at major U.S. venues.