Live Nation, the biggest U.S. concert promoter, merged with ticketing giant Ticketmaster in 2010, agreeing at the time not to retaliate against venues that didn’t use Ticketmaster.
he U.S. Justice Department and a group of states will sue Live Nation Entertainment Inc. for antitrust violations related to Ticketmaster’s unrivaled control of concert ticket sales, according to people familiar with the case.
Live Nation shares dropped by 10% in late trading following Bloomberg’s report on the Justice Department’s planned lawsuit. The move is the latest antitrust suit pursued by the Biden administration, which has made competition a key component of its economic policy, bringing cases against companies including Alphabet Inc.’s Google and Amazon.com Inc.
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