08:55 AM EDT, 04/16/2024 (MT Newswires) -- Live Nation Entertainment ( LYV ) shares were down nearly 9% in recent Tuesday premarket activity following a Wall Street Journal report saying the US Department of Justice is preparing an antitrust lawsuit against the company.

The suit will reportedly allege that Live Nation has used its dominance in concert promotion to undermine competition for ticketing live events, according to the report, which cited sources with knowledge of the matter.

Live Nation merged with Ticketmaster in 2010.

The specific claims that the DOJ will allege in the lawsuit could not be learned, the WSJ report said.

Live Nation, Ticketmaster and the DOJ did not immediately respond to requests for comment from MT Newswires.

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