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
A$AP Rocky has revealed that it took years of persistence before Tim Burton agreed to create the cover artwork for his upcoming album, Don’t Be Dumb. The rapper reflected on how the unlikely collaboration finally came together during a recent appearance on The Tonight Show Starring Jimmy Fallon on Monday.
Going into detail about the process, Rocky confessed that he “basically had to stalk and harass him for a few years” before things clicked. He explained, “I reached out and told him I would love to hang out, play him some vibes and just connect. I ended up going to Malibu while he was on a break, and he was feeling it. I played him an early version of the album and he really liked it. That’s when I asked, ‘Do you think you might want to do the illustration for this?’ He was open to it, but then suddenly he had Wednesday and Beetlejuice 2 going on. I realized this was going to take a lot longer than I thought.”
A$AP Rocky went on to describe a moment that really stuck with him during that visit. “While I was there, I noticed a sketch sitting on the table and asked if he drew it,” he said. “He told me that every morning he and his daughter work on drawings together. He starts one, then she comes in and finishes it or changes it. It’s something they practice daily. I saw it as their bond, and to me, that felt priceless.”
On Tuesday, A$AP Rocky also released a double music video for his tracks “WHISKEY” and “BLACK DEMARCO.” Tim Burton appears in the visual and contributed multiple illustrations that tie into the project.
Alongside the release of the “WHISKEY” and “BLACK DEMARCO” video, Rocky officially unveiled the Don’t Be Dumb World Tour. The run will include 42 dates across North America, Europe, and the United Kingdom, with shows scheduled throughout 2026.
