[ad_1]
The U.S. Department of Justice said on Monday that Endeavor CEO Ari Emanuel and Entertainment Group President Mark Shapiro (Mark Shapiro), after Live Nation expressed concerns about the overlap of the two companies, have already agreed to Nation’s board of directors resigned.
Under the leadership of the Biden administration, the Ministry of Justice has been strengthening antitrust review, Say On Monday, Endeavor and Live Nation competed fiercely in the sports and entertainment markets. Both companies sell tickets and are not eligible for certain antitrust safe harbors.
“These resignations ensure that Endeavor and Live Nation will compete independently,” said Richard Bowles, acting assistant attorney general for antitrust at the Department of Justice.
“Executives must not hold board positions in competing companies. The department will enforce antitrust laws to ensure that all companies compete on merit.”
June 3, Live Nation Say Emanuel is resigning from the board of directors, but did not express any pressure from the judiciary. Shapiro re-elected the board of directors earlier this month and is still listed as a member of the real-time country website As of Monday.
Live Nation, the sponsor of the event, which owns the Ticketmaster platform, declined to comment. Endeavor said: “Although there is no violation of the law, we understand and respect the Department of Justice’s concerns about the current similarities of our businesses.”
Forge ahead Listed In April. The company was founded by Emanuel in 1995 as a talent brokerage company, and then acquired rival William Morris Brokerage. But it has become a mature entertainment and sports company, acquiring the Ultimate Fighting Championship and the Miss Universe pageant, among other businesses.
Live Nation, struggling during the pandemic, settle down Cooperated with the Ministry of Justice on anti-monopoly issues in 2019. The US Department of Justice has been investigating Live Nation because of concerns that Live Nation is trying to force concert venues to use its Ticketmaster website instead of other ticketing platforms.
The Biden administration has stated that it will take more stringent measures against anti-monopoly enforcement.
Biden chose 32-year-old Lina Khan, Critics of large tech companies, Leading the Federal Trade Commission. Tim Wu, a well-known critic of large technology groups, Join In March, he served as a White House competition policy adviser, a move that showed Silicon Valley that Biden wanted to tame America’s most valuable company.
[ad_2]
Source link
