Live Nation and Ticketmaster face a $5 billion consumer class action lawsuit following the Department of Justice's recent move to break up the entertainment giants. The lawsuit, filed in Manhattan federal court, represents millions of ticket buyers and alleges monopolistic practices in the live events industry.

The case mirrors the DOJ's accusations that Live Nation has systematically forced out competitors and threatened venues working with rival ticketing services. US District Judge Arun Subramanian, a Biden appointee with antitrust litigation experience, will oversee the proceedings.

While the current DOJ case shares similarities with its 2010 investigation into the Live Nation-Ticketmaster merger, officials emphasize that the company has since engaged in "more expansive forms of anti-competitive conduct." Live Nation dismisses these claims as "baseless," arguing that the live events market is more competitive than ever.

Legal experts note that Live Nation's defense might center on the DOJ's initial approval of the Ticketmaster merger. However, the company's alleged failure to follow agreed-upon guidelines could support the government's case. Some antitrust lawyers question whether a complete breakup is legally feasible as a remedy.

The class action lawsuit is being handled by attorneys from Israel David and Robbins Geller Rudman & Dowd, who have not yet commented on the proceedings.

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