The Department of Justice's investigation into Live Nation and Ticketmaster is reportedly intensifying, focusing on specific business practices and market competition concerns. However, Live Nation executives maintain there's no significant development in the probe.

Key Investigation Points:

• DoJ is examining Live Nation's artist contract terms
• Investigating potential restrictions on venues working with other promoters
• Looking into allegations of inflated artist fees and their impact on ticket prices
• Recent document retention letters sent to talent agencies

Live Nation's Response:

• Denies anticompetitive practices in artist payments
• States artist fees are based on competitive bidding
• Claims investigation is in "mid-stages"
• Currently completing requested document production
• No depositions have started yet

Financial Performance:

• Q3 2023 reported as "strongest quarter ever"
• Revenue reached $8.15 billion
• Concert revenue up 32% year-over-year ($6.97 billion)
• Ticketing revenue increased 57% ($832.6 million)

CFO Joe Berchtold emphasized that while the DoJ is examining competitor complaints, the company's fundamental business model isn't being questioned. He suggested the timing of investigation reports coinciding with earnings releases isn't coincidental.

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