Justice Department to File Antitrust Lawsuit Against Live Nation in Coming Weeks
The Department of Justice (DOJ) is reportedly preparing to file an antitrust lawsuit against Live Nation Entertainment in the coming weeks, following a two-year investigation into the company's market practices.
Live Nation logo against black
The investigation focuses on alleged market-power abuses, particularly examining Live Nation's artist terms and whether their deals prevent venues from working with competitors. This scrutiny intensified following the controversial Taylor Swift Eras Tour pre-sale incident in 2022.
Live Nation CFO Joe Berchtold addressed these concerns during the company's Q3 2023 earnings call, stating they were still in the document production phase and hadn't begun depositions. In February 2024, the DOJ issued additional information requests as part of their ongoing investigation.
Despite the regulatory pressure, Live Nation reported strong financial performance with a 36% revenue increase in 2023, reaching $22.7 billion. The company has actively defended its practices, with EVP Dan Wall recently publishing a detailed explanation of their ticket pricing strategy.
The investigation occurs alongside other challenges for Live Nation, including:
- Congressional scrutiny over all-in pricing practices
- A separate investigation by a former Louisiana attorney general
- Ongoing public criticism about high ticket prices
- Mounting pressure for market reform
US Department of Justice building exterior
The company's stock (NYSE: LYV) has shown vulnerability to these developments, recently dropping 6.5% to $93.25 per share.
Michael Rapino in black shirt
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