A PYMNTS Company

Live Nation Under Criminal Antitrust Investigation Over Pandemic-Era Refund Policies

By  |  May 19, 2025

The US Department of Justice is conducting a criminal antitrust investigation into how leading concert promoters Live Nation and AEG handled refunds for canceled shows during the early days of the COVID-19 pandemic, according to Reuters.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Live Nation confirmed the existence of the probe on Thursday, firmly denying any coordinated effort with rival AEG regarding refund practices. The investigation centers on whether the two companies unlawfully collaborated in shaping policies after live events were widely canceled in 2020 due to global shutdowns. Collusion between competitors is considered a potential criminal violation under U.S. antitrust statutes, though such investigations do not always lead to charges.

    Per Reuters, Live Nation executive Dan Wall addressed the issue, emphasizing that while industry players communicated to manage the crisis, the company acted independently. “While Live Nation contributed to this industry effort in good faith, we set our own unique policies and refund terms to support fans and artists. We did not collude with AEG or anyone else,” Wall stated. He added that Live Nation would “defend [itself] vigorously” should the inquiry result in any formal charges.

    Read more: Live Nation and Ticketmaster Must Face Antitrust Claims, Judge Rules

    Shares of Live Nation dipped by 2.6% during after-hours trading following news of the probe, Reuters reported.

    The Justice Department and AEG have yet to issue public statements regarding the investigation. The probe comes amid broader legal scrutiny of Live Nation. The DOJ has also filed a civil lawsuit aiming to dismantle the company, alleging that Live Nation and its subsidiary Ticketmaster have engaged in monopolistic practices that artificially inflate ticket prices and limit opportunities for artists.

    Source: Reuters

    Reuters