The Justice Department is planning to file an antitrust lawsuit against Live Nation as soon as next thirty day period, the Wall Avenue Journal described on Monday, citing men and women acquainted with the subject.
Live Nation’s subsidiary Ticketmaster, which for decades has been condemned for hardball practices and higher charges, was also greatly criticized in 2022 soon after botched ticket gross sales for Taylor Swift’s “Eras” tour, feeding needs that the two organizations be investigated for harming buyers.
The lawsuit would allege that Live Nation had leveraged its dominance in a way that undermined levels of competition for ticketing live events, the WSJ report claimed.
The DOJ and Live Nation did not reply to Reuters’ request for comment.
Shares of the Ticketmaster-parent dropped about 6% in prolonged investing.
Final calendar year, Live Nation was issued a subpoena by a US Senate panel for files pertaining to ticket pricing, expenses and secondary product sales.
