The Justice Department could file an antitrust lawsuit against concert promoter Live Nation Entertainment and its unit Ticketmaster by the top of the yr, Politico reported on Friday, citing three individuals with knowledge of the matter.
Shares of Live Nation dropped 5% in prolonged trading on Friday.
Earlier this yr, senators slammed Live Nation’s lack of transparency and inability to dam bot purchases of tickets following a significant fiasco involving ticket sales for Taylor Swift’s long-awaited concert tour.
The potential lawsuit could claim that the entertainment giant is abusing its power over the live music industry, Politico reported, adding that the timing of the case was not firm and the DOJ could resolve to drop it.
Live Nation and the DOJ didn’t immediately reply to Reuters requests for comment.
