Ticketmaster owner Live Nation falls on report of planned DOJ action tied to merger agreement
The drop shaved about $1 billion off Live Nation's market cap, which sits around $13.8 billion.
The DOJ has been pursuing Live Nation for allegedly pressuring concert venues to use Ticketmaster, the Journal reported, citing people familiar with the matter.
The DOJ declined to comment. A spokesperson for Live Nation said the company does not comment on speculation. Live Nation does not believe it violated the agreement, people familiar with the matter told the Journal.
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