(Reuters) -The U.S. Department of Justice and a group of states will sue Live Nation Entertainment for antitrust violations and could seek remedies including breaking up the company, Bloomberg News reported on Wednesday.
The dispute is tied to Ticketmaster’s control of concert ticket sales, the report said, adding that a lawsuit is expected to be filed in the Southern District of New York on Thursday.
The report underscores the aggressive approach President Joe Biden’s antitrust enforcers have adopted as they seek to inject more competition into several industries.
The company had also come under fire in 2022 after Ticketmaster botched the sale of tickets to Taylor Swift’s 2023 tour.
Live Nation’s shares fell 7% after the bell. The company and the Department of Justice did not immediately respond to Reuters requests for comment.
(Reporting by Niket Nishant in Bengaluru; Editing by Alan Barona)
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