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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