TNB Tech Minute: Live Nation Reaches Settlement in Antitrust Case, Avoids Potential Break-Up

0.031 - 16.639 Julie Chang

Here's your morning TNB Tech Minute for Monday, March 9th. I'm Julie Chang for The Wall Street Journal. Live Nation and the Justice Department have reached a settlement in the government's monopolization lawsuit, avoiding a potential breakup of the ticketing giant.

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People familiar with the matter say the agreement, which will be made public today, is expected to increase competition for promoters at Live Nation-controlled venues and restrict the company's use of exclusive ticketing contracts. Live Nation and Ticketmaster merged in 2010.

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The Justice Department sued the company in 2024, alleging that Live Nation illegally dominates the market for major concerts, harming artists, fans, and venues. Live Nation said the market is broader and more competitive than the Justice Department claimed.

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We exclusively report that the president's sons, Eric Trump and Donald Trump Jr., are backing a new drone company. Powerus is a drone roll-up company based in Florida that is looking to meet fresh demand from the Pentagon and fill the gap left by the U.S. ban on new Chinese drones.

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According to securities filings, PowerUs will become public after merging with a holding company for golf courses backed by the Trumps. The reverse merger will result in PowerUs, which was formed last year, trading on the Nasdaq stock exchange in the coming months. PowerUs said it was working toward building more than 10,000 drones each month.

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And Nscale Global Holdings, a UK-based company that builds and operates data centers in Europe and the US, announced Monday it raised $2 billion at a $14.6 billion valuation in a Series C funding round. Investors included NVIDIA, Dell Technologies, and Nokia.