07:08 AM EDT, 05/23/2024 (MT Newswires) -- Live Nation Entertainment ( LYV ) will be sued by the US government for anticompetitive practices related to Ticketmaster's control of concert ticket sales, media reports said Thursday, citing people familiar with the matter.

The US Justice Department and a group of states will seek remedies including breaking up Live Nation, reports said. The case is reportedly expected to be filed in the Southern District of New York on Thursday.

Live Nation and the Justice Department did not immediately respond to MT Newswires' requests for comment.

Shares of the company were down more than 7% in recent Thursday premarket activity.

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