© Reuters. FILE PHOTO: The Live Nation Entertainment logo and commercial information will appear on a display on the floor of the New York Stock Exchange (NYSE) in New York, United States on May 3, 2019. REUTERS / Brendan McDermid
WASHINGTON (Reuters) – Two top executives at Endeavor Group Holdings, including CEO Ari Emanuel, have stepped down from the board of directors of entertainment giant Live Nation over antitrust concerns, the US Department of Justice said on Monday.
Emanuel has served on Live Nation's board of directors since 2007, while Endeavor president Mark Shapiro joined Live Nation's board of directors in 2008, according to the Live Nation website.
The Justice Department said it had expressed concern about the presence on the board of the two men who are creating "an illegal interlocking directorate" where two competitors are run by the same people.
Endeavor and Live Nation are selling tickets and packages for live music, sports and other entertainment, the department said.
"These resignations will ensure that Endeavor and Live Nation will compete independently," said Assistant Attorney General Richard Powers of the Justice Department's Antitrust Division. "Executives are not allowed to hold board positions in companies that compete with one another."
Live Nation and Endeavor spokespersons did not immediately respond to requests for comment.
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