Justice Department Expects to File Antitrust Lawsuit Against Ticketmaster Owner Live Nation: Reports

(NEXSTAR) – The Department of Justice is expected to file an antitrust lawsuit against Live Nation, the parent company of Ticketmaster, according to multiple reports from Bloomberg, The New York Times and CNN.

The outlets, citing sources familiar with the matter, said the lawsuit could be filed as early as Thursday in the Southern District of New York.

According to Forbes, Live Nation shares fell more than 7% in after-hours trading on Wednesday amid reports of the upcoming trial.

In April, the Wall Street Journal also reported that the Justice Department was preparing to take legal action against the concert and ticketing giant in the coming weeks.

Live Nation and Ticketmaster have faced widespread public criticism for their dominance of the ticketing industry, which critics say has allowed them to drive up prices for live entertainment.

Ticketmaster also gained national attention after singer Taylor Swift’s online pre-sale crash prevented thousands of her fans from purchasing tickets to her “Eras Tour” in 2022. Lawmakers have since raised questions about Ticketmaster’s parent company, Live Nation, and whether it committed wrongdoing anti-competitive practices.

The merger of concert promoter Live Nation and Ticketmaster was approved in 2010 by the Department of Justice following an antitrust investigation. Live Nation maintains that despite concerns raised by lawmakers, the ticketing industry is highly competitive.

Live Nation’s head of corporate affairs, Dan Wall, denies allegations that Ticketmaster and Live Nation are responsible for high ticket prices. He blogged earlier this year that ticket prices are set by artists and their bands, and additional service fees are set by seats. He noted that high ticket prices can also be attributed to the supply and demand of live entertainment.

The Hill’s Lauren Sforza contributed to this report.