02:44 PM EDT, 06/28/2024 (MT Newswires) -- Live Nation Entertainment ( LYV ) and its Ticketmaster unit may face a trial in early 2026 following a antitrust lawsuit by the US Justice Department seeking to break up the entertainment giant, Reuters reported late Thursday, citing a court hearing.

US District Judge Arun Subramanian in New York called the timeline "appropriate" but did not fix a firm date, the report said.

Live Nation aims to transfer the case to Washington, Reuters said.

The lawsuit, backed by 29 states and the District of Columbia, accuses Live Nation and Ticketmaster of monopolizing the live events industry and inflating ticket prices. Both companies deny any wrongdoing, the report said.

Live Nation and the Justice Department didn't immediately respond to requests for comment from MT Newswires.

Live Nation shares rose 3.3% in recent Friday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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