July 28 (Reuters) – The U.S. Department of Justice may file an antitrust lawsuit towards live performance promoter Live Nation Entertainment (LYV.N) and its unit Ticketmaster by the top of the 12 months, Politico reported on Friday, citing three folks with information of the matter.

Shares of Live Nation dropped 5% in prolonged buying and selling on Friday. The firm didn’t reply to a Reuters request for remark, whereas the DOJ declined to remark.

Earlier this 12 months, U.S. senators slammed Live Nation’s lack of transparency and incapacity to dam bot purchases of tickets following a serious fiasco involving ticket gross sales for Taylor Swift’s long-awaited live performance tour.

The potential lawsuit may declare that the leisure large is abusing its energy over the stay music trade, Politico reported, including that the timing of the case was not agency and the DOJ may resolve to drop it.

Reporting by Urvi Dugar and Yuvraj Malik in Bengaluru; Editing by Devika Syamnath

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