NEWS
Ariel Emanuel speaks onstage during Los Angeles LGBT Center's 48th Anniversary Gala Vanguard Awards at The Beverly Hilton Hotel on September 23, 2017 in Beverly Hills, California.
Emma McIntyre/Getty ImagesConcerns about IMG's ownership in a ticketing company that Live Nation had spun off in 2010 led to a Department of Justice request that IMG parent Endeavor's chief executive Ari Emanuel and president Mark Shapiro resign from LN's board of directors, sources tell Billboard.
As part of a consent decree governing Live Nation's merger with Ticketmaster in 2010, the DOJ assistant attorney general for its Antitrust Division Christine Varney required Ticketmaster to sell off Paciolan, a ticketing company it had purchased three years earlier, to Comcast-Spectacor. In 2017, Paciolan was again sold as part of an intra-company transaction to sports marketing platform Learfield IMG College, which Endeavor owns a stake in through its blockbuster purchase of IMG in 2013. Silver Lake and the Comcast-backed Atairos also hold stakes in Learfield with Endeavor.
Emanuel has been on the Live Nation board of directors since 2007 while Shapiro joined the Live Nation board in 2008.
“While there has been no violation of law, we understand and respect the DOJ’s concerns regarding the current similarities of our businesses," a statement from an Endeavor spokesperson reads.
Why the DOJ decided to act now — under the Biden Administration, the DOJ's acting assistant attorney general for Antitrust is career DOJ deputy AG and Distinguished Service Award winner Richard Powers — is unclear. Emanuel had already agreed to resign from the board effective two weeks ago when his final stock awards in the company had vested.
In a release, the DOJ described the ownership issue as an illegal interlocking directorate where "one person – or an agent of one person or company – serves as an officer or director of two companies."
Section 8 of the Clayton Act "prohibits the same person or company from serving as an officer or director of two competing companies, except under certain defined safe harbors."
"Endeavor and Live Nation compete closely in many sports and entertainment markets. Both Live Nation and Endeavor, through its wholly owned and minority owned subsidiaries, promote and sell tickets and VIP packages that include tickets, lodging and travel accommodations, to live music, sporting and other entertainment events," the release explained.
“These resignations ensure that Endeavor and Live Nation will compete independently,” explains Powers in a release. “Executives are not permitted to hold board positions on companies that compete with each other. The division will enforce the antitrust laws to make sure that all companies compete on the merits.”
Why the DOJ decided to act now — under the Biden Administration, the DOJ's acting assistant attorney general for Antitrust is career DOJ deputy AG and Distinguished Service Award winner Richard Powers — is unclear. Emanuel had already agreed to resign from the board effective two weeks ago when his final stock awards in the company had vested.
In a release, the DOJ described the ownership issue as an illegal interlocking directorate where "one person – or an agent of one person or company – serves as an officer or director of two companies."
Section 8 of the Clayton Act "prohibits the same person or company from serving as an officer or director of two competing companies, except under certain defined safe harbors."
"Endeavor and Live Nation compete closely in many sports and entertainment markets. Both Live Nation and Endeavor, through its wholly owned and minority owned subsidiaries, promote and sell tickets and VIP packages that include tickets, lodging and travel accommodations, to live music, sporting and other entertainment events," the release explained.
“These resignations ensure that Endeavor and Live Nation will compete independently,” explains Powers in a release. “Executives are not permitted to hold board positions on companies that compete with each other. The division will enforce the antitrust laws to make sure that all companies compete on the merits.”
Why the DOJ decided to act now — under the Biden Administration, the DOJ's acting assistant attorney general for Antitrust is career DOJ deputy AG and Distinguished Service Award winner Richard Powers — is unclear. Emanuel had already agreed to resign from the board effective two weeks ago when his final stock awards in the company had vested.
In a release, the DOJ described the ownership issue as an illegal interlocking directorate where "one person – or an agent of one person or company – serves as an officer or director of two companies."
Section 8 of the Clayton Act "prohibits the same person or company from serving as an officer or director of two competing companies, except under certain defined safe harbors."
"Endeavor and Live Nation compete closely in many sports and entertainment markets. Both Live Nation and Endeavor, through its wholly owned and minority owned subsidiaries, promote and sell tickets and VIP packages that include tickets, lodging and travel accommodations, to live music, sporting and other entertainment events," the release explained.
“These resignations ensure that Endeavor and Live Nation will compete independently,” explains Powers in a release. “Executives are not permitted to hold board positions on companies that compete with each other. The division will enforce the antitrust laws to make sure that all companies compete on the merits.”
NEWS
Steve Albini‘s bands Shellac and Big Black now have their catalogues available for listening on Spotify.
Albini passed away aged 61 earlier this month due to a heart attack. He was well known for being the producer of major albums such as Nirvana’s ‘In Utero‘, Pixies’ ‘Surfer Rosa’, PJ Harvey’s ‘Rid of Me’, Manic Street Preachers‘ ‘Journal For Plague Lovers’ and more.
Back in 2022, the late producer took his music off the streaming platform. He had previously criticised the company for platforming anti-vaxxers such as Joe Rogan, and tweeted later that they were a “terrible company”, adding: “I don’t want to be part of their business”.
He later told Attack Magazine that Spotify was “one of the few places outside of record stores where recorded music can earn anything at all, and for bands [with] more generous, honest relationships with independent labels not part of the ownership trust, then the payments from Spotify, though meager per-play, can add up to a viable income stream. Nobody’s getting rich, but it could pay for the groceries.”
Now, it appears that Albini’s work with his bands Shellac and Big Black are now available to stream on Spotify. This include’s Shellac’s final album ‘To All Trains’, which was announced shortly before Albini’s death and was released last Friday (May 17).
Tributes have poured in for the legendary producer since the announcement of his death. Our NME obituary hailed him as “a lone voice of anti-industry punk scene ethics, even as he worked with major labels on some of the biggest names in alternative rock.”
Meanwhile, Foo Fighters dedicated a rendition of ‘My Hero’ to the late producer in Charlotte, North Carolina last week.
“Tonight I’d like to dedicate this song to a friend that we lost the other day, who I’ve known a long, long time,” Foos frontman Dave Grohl told the crowd. “He left us much too soon. He’s touched all of your lives, I’m sure. I’m talking about Steve Albini. For those of you who know, you know. For those of you who don’t know, just remember that name: Steve Albini. Let’s sing this one for him.”
PJ Harvey also said he “changed the course of my life” during sessions for her 1993 LP ‘Rid Of Me’., and Joanna Newsom dedicated a version of her song ‘Cosmia’ to him, who engineered her 2006 album ‘Ys’. See further tributes here.
Elsewhere, Yourcodenameis:milo spoke to NME about how the 20th anniversary of their LP ‘All Roads To Fault’ was made all the more profound by the passing of Albini, who engineered the album.
Remembering their time with the punk and production legend, Lockey said: “We paid attention, saw everything he did, asked questions that he would gladly spend ages answering”.
“He once stopped the session and proceeded to give us a lecture on how the peanut built America. He schooled us in billiards, then showed us his favourite cooking shows that he’d recorded. It was all so natural and encouraging, we could do what the fuck we wanted and he’d capture it. That’s the deal, and we fucking loved it.”
