DOJ expected to file antitrust lawsuit against Ticketmaster owner Live Nation: reports

(NEXSTAR) -- The Justice Department is expected to file an antitrust lawsuit against Live Nation, the parent company of Ticketmaster, according to multiple reports from Bloomberg, The New York Times and CNN.

The outlets, citing sources familiar with the matter, said the suit could be filed as soon as this Thursday in the Southern District of New York.

Live Nation’s stock dropped more than 7% in after-hours trading on Wednesday following reports of the looming suit, according to Forbes.