Live Nation Entertainment is facing a competition lawsuit from the US Justice Department and state attorneys general, who allege that the company has squeezed out competitors and limited customer choice, ultimately leading to higher prices. This legal challenge follows a years-long investigation by the DOJ’s anti-trust division, with concerns over Live Nation’s dominance in the live entertainment industry dating back to its 2010 merger with Ticketmaster.
Live Nation Entertainment has been criticized by fans, lawmakers, artists, and competitors for its influence over live entertainment events in the US and worldwide. News of the DOJ case caused Live Nation’s shares to drop by over 6% in after-hours trading in New York.
The federal government will join state attorneys general in challenging Live Nation’s business practices, with prosecutors aiming to force the company to split off parts of its business or change its operations. The DOJ declined to comment on the matter, while Live Nation has yet to respond to requests for comment.
