The US Justice Department (DOJ) plans to sue Live Nation, the owner of Ticketmaster, for anti-competitive practices, sources told CBS News, a partner of the BBC.
The DOJ aims to address concerns that Live Nation’s dominance in the live entertainment industry has reduced competition and increased prices.
This lawsuit might force Live Nation to split parts of its business or change how it operates. The lawsuit, supported by multiple state attorneys general, follows a lengthy DOJ investigation.
Live Nation, which merged with Ticketmaster in 2010, has faced criticism for its influence over the industry. This news led to a more than 6% drop in Live Nation’s shares.
Credit: BBC.
https://www.bbc.com/news/articles/cv22k054z5zo