The Justice Department could file an antitrust lawsuit against concert promoter Live Nation Entertainment and its unit Ticketmaster by the end of the year, Politico reported on Friday, citing three people with knowledge of the matter.
Shares of Live Nation dropped 5% in extended trading on Friday.
Earlier this year, senators slammed Live Nation’s lack of transparency and inability to block bot purchases of tickets following a major fiasco involving ticket sales for Taylor Swift’s long-awaited concert tour.
Many fans were unable to buy tickets to Taylor Swift’s long-awaited concert tour. AP
Earlier this year, senators slammed Live Nation’s lack of transparency and inability to block bot purchases of tickets. APThe 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 decide to drop it.
Live Nation did not immediately respond to a Reuters requests for comment, while the DOJ declined to comment.
