The US Department of Justice said Monday that Endeavor CEO Ari Emmanuel and Mark Shapiro, president of the entertainment group, have resigned from the Live Nation board of directors after it expressed concerns about the two companies overlapping.
The Justice Department, which has stepped up its antitrust scrutiny under the Biden administration, He said On Monday, Endeavor and Live Nation competed closely in the sports and entertainment markets. Both companies sell tickets and have not qualified for some antitrust safe havens.
“These resignations ensure that Endeavor and Live Nation compete independently,” said Richard Powers, acting assistant attorney general for antitrust at the Department of Justice.
“Executive directors are not allowed to hold positions on the boards of directors of companies that compete with each other. The department will enforce antitrust laws to ensure that all companies compete on merit.”
On June 3, Live Nation He said Emmanuel was resigning from his board, but he did not indicate any pressure from the Department of Justice. Shapiro was re-elected to the Board of Directors earlier this month and remains listed as a member of Live Nation’s website As of Monday.
Live Nation, the event promoter that owns the Ticketmaster platform, declined to comment. Beverly Hills-based Endeavor did not immediately respond to requests for comment.
quest audience went in April. The company was founded by Emanuel in 1995 as a talent agency and has gone on to acquire the competition’s William Morris agency, as well as the Ultimate Fighting Championship and Miss Universe pageant.
Long live the nation that struggled during the pandemic, Settlement With the Department of Justice in 2019 on antitrust issues. The Department of Justice was investigating Live Nation amid concerns that it tried to pressure concert venues to use their Ticketmaster sites on other ticket platforms.
The Biden administration has indicated that it will take a tougher approach to antitrust enforcement.
Biden chose 32-year-old Lina Khan, Critic of big tech companiesto chair the Federal Trade Commission. Tim Wu, a prominent critic of major tech groups, join The White House in March served as an adviser on competition policy, a move that signaled to Silicon Valley that Biden had hoped to tame America’s most valuable companies.