The Wall Street Journal recently reported TKO Executive Chairman Ari Emanuel’s influence on the Ticketmaster/Live Nation antitrust case.
Dana Mattioli, Rebecca Ballhaus, and Josh Dawsey reported on Mike Davis’ influence on the Department of Justice on antitrust cases. Davis denied the claims to the Journal, but a WSJ found that Davis “pushed antitrust officials at the Justice Department to approve his deals — and he went over their heads when they wouldn’t comply.”
Davis, despite having little experience practicing antitrust law, is one of the most visible practitioners of a change playing out across the division. Current and former antitrust officials said some mergers now get approval or draw mild settlements based on political ties rather than public interest. The new dynamic casts a shadow over the Justice Department’s integrity, they said, and has alarmed even some Trump loyalists in the department.
During the Joe Biden administration, the Justice Department sued to break up Live Nation and Ticketmaster, alleging that the company drove up ticket prices for fans and suppressed competition. After Trump was elected president of the United States, Live Nation hired Davis to advise on the Justice Department case.
Amid infighting within the Justice Department, Emanuel was among those who alerted Trump to the case, according to the Journal. Emanuel is a former board member of Ticketmaster. He and TKO COO Mark Shapiro were forced to resign by the Biden Antitrust Division in 2021.
Trump heard about the Live Nation case from friends, including Hollywood talent agent and former Live Nation board member Ariel Emanuel, who told the president it should be settled, according to people familiar with the conversations.After the trial began in March, Trump began calling around to ask why it hadn’t been settled. What’s the holdup? he wanted to know, according to people familiar with the matter. It was an extraordinary role for a president to play in a routine antitrust investigation.
Both sides met at the White House on March 5, and four days later, the Justice Department and Live Nation announced a tentative agreement that would allow the company to avoid a breakup. The deal did not include venue divestitures, but the company agreed to divest 13 exclusive booking agreements with amphitheaters and to open its amphitheaters to all promoters.
