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Live Nation Stock Sinks on Antitrust News, Hipgnosis Shares Soar After Takeover Bid
Live Nation stock is down on antitrust news, Hipgnosis shares are up and more music stock performances including Spotify, iHeartMedia and Hipgnosis.
In February, Senator Amy Klobuchar, who helped organize the Jan. 2023 Senate hearing at which Live Nation president/CFO Joe Berchtold testified, called on lawmakers to “update and enforce antitrust laws” to prevent Live Nation and Ticketmaster from working on concert to “keep ticket prices high.” “Break them up,” Senator Alexandria Ocasio-Cortez wrote in November 2022 following the Taylor Swiftpre-sale fiasco. The board encouraged shareholders to accept Concord’s bid, which was a 32.2% premium over the prior day’s closing price.
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