Live Nation nearing end of DOJ investigation, willing to negotiate settlement

Live Nation President and CFO Joe Berchtold addressed the ongoing Department of Justice investigation into the company’s business practices at the J.P. Morgan Global Technology, Media, and Communications conference. Amid reports of a potential antitrust lawsuit, Berchtold stated that the company is in discussions with senior DOJ leadership, signaling a critical phase in the process.

While acknowledging the seriousness of the discussions, Berchtold expressed confidence in the defensibility of Live Nation’s business practices. He emphasized the company’s willingness to find common ground to resolve the issue but noted the uncertainty regarding the DOJ’s specific demands.

Berchtold clarified that the focus of the investigation is not on the Live Nation-Ticketmaster merger but rather on discrete business practices. Addressing concerns about exclusive contracts, he dismissed them as a “red herring,” highlighting venues’ preferences for a single ticketing service for operational efficiency.

During a Senate hearing earlier, allegations were made against Live Nation for pressuring venues to choose Ticketmaster as the ticket provider. Berchtold refuted these claims, stating that most contracts are three to five years in length and that longer exclusivity periods are chosen by venues to secure larger advances for capital requirements.

Overall, Berchtold remained optimistic about resolving the investigation and reiterated Live Nation’s commitment to addressing any concerns raised by the DOJ. The company’s willingness to adapt its practices to meet the needs of venues reflects a proactive approach to resolving the issue.