Live Nation Falls After Report DOJ Is Preparing Legal Action
(Bloomberg) -- Live Nation dropped as much as 8.2% after the Wall Street Journal reported the Justice Department was preparing legal action against it over allegations the company has sought to strong-arm concert venues into using its Ticketmaster subsidiary
- WSJ cited unidentified people familiar with the matter
- DOJ believes conduct violates the Live Nation-Ticketmaster merger settlement
- Live Nation doesn’t believe it committed violations, according to unidentified people familiar with the matter
- Company and DOJ have engaged in talks but have not settled differences
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