The Department of Justice has initiated antitrust proceedings against Ticketmaster and Live Nation

TThe U.S. Department of Justice and a group of states will sue Live Nation Entertainment Inc., according to people familiar with the matter. for antitrust violations related to Ticketmaster’s unparalleled control over concert ticket sales.

The lawsuit is expected to be filed in the Southern District of New York on Thursday, said the people, who asked not to be identified. The dispute will require remedial measures, including splitting Live Nation, said the people, who asked not to be identified discussing confidential information.

Live Nation shares fell 10% in late trading following a Bloomberg report on a planned Justice Department lawsuit.

The Justice Department declined to comment. Live Nation did not immediately respond to requests for comment.

The move is the latest antitrust lawsuit brought by the Biden administration, which has made competition a key part of its economic policy, bringing cases against companies such as Google and Amazon.com Inc. owned by Alphabet Inc.

Live Nation, the largest US concert promoter, merged with ticketing giant Ticketmaster in 2010. President Barack Obama’s Justice Department reviewed the deal and allowed it to proceed as part of a settlement in which the company promised not to retaliate against concert venues that stopped using Ticketmaster.

The department under President Donald Trump’s administration found that Live Nation had repeatedly breached that promise and in 2019 reached a modified settlement with the company requiring an external monitor to investigate further allegations.

Joe Biden’s administration launched a new investigation into the company in 2022 amid ongoing concerns that Live Nation failed to honor the terms of the settlement. The case sparked widespread public attention after Ticketmaster botched a massive demand for Taylor Swift tickets later that year.

Biden’s Justice Department has already filed twin monopolization cases against Google and sued Apple Inc. in March. for allegedly thwarting innovation on her iPhone. The Federal Trade Commission, which collectively enforces antitrust laws, is seeking to force Meta Platforms Inc. to sell its units on Instagram and WhatsApp, and last year sued Amazon for monopolizing its online marketplace services.