Justice Department set to take antitrust action against Ticketmaster parent Live Nation [CBS News]
Live Nation Entertainment, Inc. (LYV)
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Source: CBS News
The federal government will be joined in its legal challenge by several state attorneys general. Prosecutors are expected to challenge the Ticketmaster parent company's practices and could seek to force a change in how the company does business, the sources said. In many instances, when the Justice Department sues over antitrust issues, it seeks to get a judge to force divestments within a company or change how it operates. The Justice Department declined to comment. Live Nation did not respond to a CBS News request for comment. News of the antitrust action was first reported by the Washington Post. The move comes after an investigation by the Justice Department's antitrust division that spanned years. In 2022, CBS News confirmed the Justice Department had already been looking at the company and its Ticketmaster unit before the company's disastrous mishandling of ticket sales for Taylor Swift's Eras Tour. In November 2022, Ticketmaster's site crashed during a pre-sale period
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