Eric Broder Van Dyke
Live Nation (NYSE:LYV) rose 4% amid a report that the U.S. Justice Department’s antitrust lawsuit against the concert promoter won’t go to trial until 20026. The shares may also be helped by higher odds of a Donald Trump win after the Presidential debate Thursday night.
U.S. District Judge Arun Subramanian called the timeline “appropriate,” according to a Reuters report on Thursday, recounting the first hearing held on the trial in New York. Live Nation (LYV) is pushing for the case to be transferred to Washington, D.C. Subramanian met for about an hour on Thursday with lawyers for both sides.
Late last month, the DOJ and more than two dozen states filed an antitrust suit against Ticketmaster parent Live Nation (LYV), looking to break up the company.
Shares of Live Nation (LYV) may also be moving up after the Presidential debate on Thursday night as investors see a potential Trump presidency as more positive for antitrust matters as the Biden administration has been particularly strict.