The emblem of Live Nation Entertainment looms large on the screens at the New York Stock Exchange, casting a shadow over the trading floor. This scene, captured on May 3, 2019, now serves as a backdrop to one of the most significant antitrust battles in recent history.
In a move that could reshape the concert industry, the U.S. Justice Department, alongside 30 states, has filed a lawsuit against Live Nation Entertainment and its subsidiary Ticketmaster. The suit, lodged in Manhattan federal court, accuses the entertainment behemoth of monopolizing ticket sales and promotions, aiming to dismantle their powerful grip on the market.
Leading the charge is Jonathan Kanter, the head of the DOJ’s antitrust division under the Biden administration. Central to this high-stakes legal team is Bonny Sweeney, a veteran antitrust attorney who transitioned from a storied career at plaintiffs’ firms to join the DOJ in 2022. Sweeney, known for her relentless pursuit of justice against corporate giants like Google, Apple, and major credit card companies, brings a wealth of experience to the table.
Scott Martin of Hausfeld, where Sweeney previously co-led the antitrust group, highlighted her passion and expertise, noting that she is not just a legal eagle but also a concert enthusiast. “Bonny’s seasoned litigation skills and genuine love for live music make her an invaluable asset in this case,” Martin remarked.
Sweeney’s career has been marked by significant tenures at Hausfeld and Robbins Geller Rudman & Dowd, where she spearheaded numerous high-profile antitrust lawsuits. Her move to the DOJ signifies a strategic push to heighten antitrust enforcement under the current administration.
In response to the lawsuit, Live Nation and Ticketmaster have assembled formidable defense teams from prestigious law firms Latham & Watkins and Cravath, Swaine & Moore. Both firms boast deep benches of antitrust expertise. Latham & Watkins, in particular, has a long-standing relationship with Live Nation, having defended them in various consumer lawsuits and during their 2010 merger with Ticketmaster. The firm recently brought on board Daniel Wall, a top antitrust defender, to bolster their corporate and regulatory affairs.
Cravath, known for its powerhouse status in New York, is no stranger to high-stakes antitrust battles. Christine Varney, the firm’s antitrust chair, previously led the DOJ’s antitrust division and served as an FTC commissioner. This dual powerhouse representation underscores the gravity and complexity of the impending legal clash.
As the courtroom drama unfolds, both sides prepare for a battle that could redefine the landscape of live entertainment. With the DOJ’s aggressive stance on antitrust enforcement and Live Nation’s determination to defend its business practices, the outcome of this lawsuit could have far-reaching implications for artists, consumers, and the broader entertainment industry.
