The U.S. Department of Justice (DOJ) has initiated a criminal antitrust investigation into Live Nation Entertainment and AEG Presents, focusing on their refund policies during the initial wave of COVID-19 concert cancellations in 2020. The probe seeks to determine whether the two live entertainment giants unlawfully coordinated their responses to minimize financial losses, potentially breaching antitrust regulations.
Live Nation has refuted allegations of collusion, asserting that while the industry collaborated to address unprecedented challenges during the pandemic, the company independently established its refund policies. Executive Dan Wall emphasized that their efforts aimed to support both fans and artists, and the company is prepared to defend its actions vigorously if charges arise.
This criminal investigation adds to the DOJ's ongoing civil antitrust case against Live Nation and its subsidiary Ticketmaster, which accuses the conglomerate of monopolistic practices that inflate ticket prices and stifle competition.
The outcome of these investigations could significantly impact the live entertainment industry, potentially leading to increased regulatory scrutiny and changes in how major promoters and ticketing companies operate.
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