The US Department of Justice said Monday that Endeavor CEO Ari Emanuel and Entertainment Group President Mark Shapiro (Mark Shapiro), after Live Nation expressed concern about the two companies’ overlapping, had already accepted the company’s resignation. .
Under the leadership of the Biden administration, the Department of Justice has strengthened antitrust review, Says On Monday, Endeavor and Live Nation competed fiercely in the sports and entertainment markets. Both companies sell tickets and do not qualify for some antitrust safe havens.
“These resignations ensure that Endeavor and Live Nation compete independently,” said Richard Bowles, assistant attorney general for antitrust at the Department of Justice.
Executives should not hold positions in competing firms. The department will enforce antitrust laws to ensure that all companies compete on merit.”
June 3, long live the nation Says Emmanuel resigned from the board of directors, but did not show any pressure from the judiciary. Shapiro was re-elected to the board earlier this month, but is still listed as a member of Live Nation. website From Monday.
Live Nation, the event’s promoter, and owner of the Ticketmaster platform, declined to comment. “While there was no violation of the law, we understand and respect the Department of Justice’s concerns about the current similarities between our businesses,” Endeavor said.
full speed ahead amphitheater in April. The company was founded by Emmanuel in 1995 as a talent brokerage, prior to the acquisition of rival William Morris Brokerage. But it has grown into a mature sports and entertainment company, acquiring the Ultimate Fighting Championship and the Miss Universe pageant, among other assets.
The nation is in trouble during the pandemic, calm down It partnered with the Department of Justice on antitrust matters in 2019. The US Department of Justice investigated Live Nation over concerns that Live Nation was trying to force concert halls to use the Ticketmaster website instead of other ticket platforms.
The Biden administration said it would take tougher action against the antitrust enforcement.
Biden picked Lina Khan, 32, Criticism of major tech companiesChairman of the Federal Trade Commission. Tim Wu, a well-known critic of big tech groups, paste In March, he served as a competition policy adviser at the White House, a move that showed Biden wanted to tame America’s most valuable company.
