US endeavor Ari Emanuel leaves Live Nation board after antitrust concerns

The US Department of Justice announced on Monday that Endeavor CEO Ari Emanuel and entertainment group chairman Mark Shapiro had resigned from the Live Nation board after they expressed concerns about a merger between the two companies.

The Department of Justice, which is stepping up its antitrust control during the Biden administration; he said On Monday, Endeavor և Live Nation competed closely in the sports և entertainment market. Both companies sell tickets and do not qualify for certain antitrust safe ports.

“These resignations guarantee that Endeavor Live Live Nation will compete on their own,” said Richard Powers, Assistant Attorney General for Antitrust Affairs at the Department of Justice.

“Executive novices are not allowed to hold board positions in competing companies. The department will enforce antitrust laws to ensure that virtually all companies compete. ”

June 3 – Live Nation he said Emanuel resigned from his council, but made no mention of pressure from the Justice Department. Earlier this month, Shapiro was re-elected to the board and still registered as a member of Live Nation website as of Monday

Live Nation, the promoter of the event owned by Ticketmaster, declined to comment. Beverly Hills-based Endeavor did not immediately respond to requests for comment.

Seek: went public in April. Founded by Emanuel in 1995 as a talent agency, the company continued to acquire rival William Morris Agency, plus the Ultimate Fighting Championship and the Miss Universe beauty pageant.

A living nation struggling with an epidemic regulated with the Department of Justice in 2019 on antitrust issues. DoJ was researching Live Nation amid fears that it was trying to pressure concert venues to use its Ticketmaster sites on other ticketing platforms.

The Biden administration has announced that it will take a tougher line on enforcing antitrust laws.

Biden eavesdropped on 32-year-old Lina Khan Critic of large technology companiesto chair the Federal Trade Commission. Famous critic of Big Tech groups Tim Woo joined In March, the White House, as a competition policy adviser, announced in Silicon Valley that Biden hoped to wipe out America’s most valuable companies.

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