Ticketmaster parent Live Nation has seen a largely uninterrupted run of growth since emerging from the depths of the COVID-19 pandemic that brought the live event industry to a crashing halt. Its most recent quarter featured a 21% bump in revenue to $3.8 billion, the seventh straight quarter of double-digit percentage growth where meaningful year-over-year comparisons could be made.

But that momentum hit a major obstacle Thursday, one that could render seismic changes for both the company itself and the businesses of both concerts and sports.

The U.S. Department of Justice sued Live Nation for antitrust violations, alleging a wide range of improper practices to block out competition.