The Department of Justice is preparing to file an antitrust lawsuit against Live Nation next month. The Wall Street Journal reported This was disclosed on Monday, citing a person familiar with the matter.
Ticketmaster, a subsidiary of Live Nation, has been accused of heavy-handed tactics and high prices for decades, but in 2022 it was criticized for failing to sell tickets for Taylor Swift’s Ellas tour. The move was widely criticized and prompted calls for an investigation into both companies for harming consumers.
The lawsuit alleges that Live Nation used its advantage to the detriment of competition to sell tickets to live events, the WSJ reported.
The Justice Department and Live Nation did not respond to Reuters’ requests for comment.
Shares of parent company Ticketmaster fell about 6% in after-hours trading.
Last year, Live Nation was issued a subpoena by a U.S. Senate committee seeking documents related to ticket prices, fees and secondary sales.
