META - Why Ticketmaster Owner Live Nation's Shares Are Tumbling Today? | Benzinga
Live Nation Entertainment Inc (NYSE:LYV) shares are trading lower on Thursday as the company faces a legal challenge after the U.S. Department of Justice and several states prepare to file an antitrust lawsuit against the entertainment giant over its control of concert ticket sales.
According to Bloomberg, the case, which is expected to be filed in the Southern District of New York on Thursday, could lead to the company’s breakup.
The lawsuit targets Live Nation’s dominance in the ticketing market through its subsidiary Ticketmaster.
This lawsuit is part of the Biden administration’s broader strategy to tackle monopolistic practices in various industries.
The Justice Department has already initiated legal ...