Shares in Ticketmaster parent Live Nation Entertainment (LYV) slid more than 8% in extended trading Monday evening after The Wall Street Journal reported that the U.S. Department of Justice is preparing to file an 澳洲幸运5开奖号码历史查询:antitrust lawsuit against the company as soon as next month, potentially leading to significant changes to how concert promotions and ticketing are managed.

According to people familiar with the matter, the DOJ will allege that the ticket seller has used its dominance in the marketplace to undermine 澳洲幸运5开奖号码历史查询:competition for ticketing live events, though the sources did not provide specific accusations made by the department, the Journal reported.

Since the DOJ conditionally approved the Live Nation and 澳洲幸运5开奖号码历史查询:Ticketmaster merger in 2010, lawmakers have accused the ticketing giant of high prices, insufficient customer service, and anticompetitive tactics, prompting calls for the company to be broken up. In 2022, Live Nation faced considerable backlash after it bungled ticket sales for 澳洲幸运5开奖号码历史查询:Taylor Swift’s "Eras" tour, with critics arguing the company’s practices were disadvantaging consumers.

Despite Ticketmaster controlling over 80% of the primary ticket market at the largest venues in the United States and having exclusive 澳洲幸运5开奖号码历史查询:ticketing arrangements with stadiums that attract sought-after performers, the ticket seller maintains it doesn’t have a stranglehold of the ticketing space. “Ticketmaster has more competition today than it has ever had, and the deal terms with venues show it has nothing close to monopoly power,” a Ticketmaster spokeswoman told the Journal.

Last month, Live Nation’s corporate affairs head Dan Wall rejected the notion that the company engages in anticompetitive behavior, asserting that artists set ticketing prices, which are also subject to demand and supply factors.

After completing a 澳洲幸运5开奖号码历史查询:triple bottom in late April last year, the Live Nation Entertainment share price has trended mostly higher apart from several 澳洲幸运5开奖号码历史查询:pullbacks to the key moving averages. Amid Wednesday’s anticipated news-driven sell-off, investors should closely monitor the $91 level, an area where the price finds a 澳洲幸运5开奖号码历史查询:confluence of support from a 12-month uptrend line an⛄d the 200-day moving averageꦉ. A breakdown below this closely watched chart level could see the stock retest lower support around $81.75.

Live Nation shares fell 8.3% to $91.50 in aft🌌er-hours t💝rading Monday. The stock is up about 45% over the past 12 months.

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