Live Nation's CFO Joe Berchtold has responded to reports of an intensifying Department of Justice (DoJ) antitrust investigation, stating there's "no real news" regarding the probe.

The DoJ investigation, which began in November 2022 following the Taylor Swift Eras Tour pre-sale issues, is examining:

• Live Nation's contractual terms with artists
• Potential restrictions on venues working with other promoters
• The company's pricing and fee structures
• Artist payment practices

According to a Wall Street Journal report, the DoJ has recently:

• Requested information from promoters and venues about market competition
• Sent document retention letters to talent agencies
• Focused on Live Nation's 2020 artist-payout modifications

Live Nation's Response:

• Denies anti-competitive practices in artist payments
• States artist payments are based on competitive bidding
• Claims the investigation is in "mid-stages"
• Suggests the timing of news reports coincides suspiciously with earnings releases

The company reported strong Q3 2023 results with:

• Total revenue: $8.15 billion
• Concert revenue: $6.97 billion (32% YoY increase)
• Ticketing revenue: $832.6 million (57% YoY increase)

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