Antitrust enforcers allege the nation's largest concert promotion and ticketing company abused monopoly and drove up prices for tickets.
The U.S. Justice Department, along with a group of 30 states and the District of Columbia, filed a lawsuit to break up Live Nation on Thursday, arguing the concert promoter and its Ticketmaster unit illegally inflated concert ticket prices and hurt artists.
The United States Department of Justice and 30 state attorneys general filed a lawsuit against Live Nation Entertainment, the parent company of Ticketmaster, for alleged monopolistic practices.
Live Nation (LYV) benefits from robust global fan demand for live events. However, high costs hurt.
The DOJ and a group of 30 states and the District of Columbia argued the big concert promoter and Ticketmaster illegally inflated concert ticket prices and hurt artists.
The Justice Department filed an antitrust lawsuit against Ticketmaster and parent company Live Nation, multiple outlets reported Thursday, the latest in the Biden administration's sweeping antitrust crackdown in various markets.
The Justice Department has filed a civil antitrust lawsuit against Live Nation-Ticketmaster, alleging "monopolization and other unlawful conduct."
The U.S. Justice Department and a group of 30 states and the District of Columbia Thursday sued to break up Live Nation , arguing the big concert promoter and its Ticketmaster unit illegally inflated concert ticket prices and hurt artists.
The U.S. Department of Justice and a group of states have filed a lawsuit against Live Nation Entertainment , according a court docket on Thursday.
Accused of violating antitrust laws, Live Nation Entertainment faces a fight that could reshape the multibillion-dollar live music industry.
The U.S. Department of Justice is suing to break up Live Nation, the parent company of Ticketmaster, over alleged antitrust violations. The lawsuit follows a DOJ probe launched in 2022 and bolstered by fan complaints following a botched roll out for tickets to Taylor Swift's Eras tour.
Live Nation Entertainment Inc (NYSE:LYV) stock is 5.5% lower to trade at $95.90 this morning, after Bloomberg reported the Department of Justice (DoJ) and a group of states planned to sue the company today in the Southern District of New York.