A PYMNTS Company

Live Nation’s CFO Says DOJ Probe Could Affect Past Settlements

By  |  March 8, 2023

Joe Berchtold, President and CFO of Live Nation, suggested that the Department of Justice is conducting an investigation into the company, per Hollywood Reporter.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    At the Morgan Stanley investor conference on Wednesday, Berchtold was asked to provide any comments regarding the DOJ investigation into Live Nation and Ticketmaster. This was following a November 2022 report by The New York Times that the DOJ had launched an antitrust inquiry.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Read more: Live Nation Antitrust Federal Lawsuit Is Thrown Out

    At the Morgan Stanley investor conference on Wednesday, Berchtold was asked to provide any comments regarding the DOJ investigation into Live Nation and Ticketmaster. This was following a November 2022 report by The New York Times that the DOJ had launched an antitrust inquiry.

    “We have a binding agreement with the DOJ as it relates to any perceived deeds in the past, much as you have individual settlements. So there has never been a situation where the DOJ has come and attempted to retrade a settlement,” Berchtold said.

    “So A.) There are legal questions about whether or not they could retrade a settlement and B.) It would have a chilling impact on their ability to ever do settlements again,” he continued.

    Berchtold continued to address the assertion, which many lawmakers made in a recent hearing, that the combination of Ticketmaster andLive Nation constitutes a monopoly.