Live Nation Entertainment (LYV) -- Navigating Antitrust Concerns with Strong Demand | Third Point Capital Q4 2024

Resilient Earnings Potential Amidst Regulatory Challenges

Apr 13, 2025

Summary

Initiated position following share price drop due to antitrust lawsuit.
Strong demand for concerts and robust pricing power support growth.
Antitrust fears considered overblown by Third Point.
Potential risks include ongoing regulatory scrutiny and market competition.
Future outlook includes earnings compounding through reinvestment in venues.

Live Nation Entertainment (LYV, Financial) was a notable addition in Third Point Capital’s Q4 2024 portfolio, as the fund identified an attractive entry point following a dip in share price due to antitrust concerns. Third Point remains optimistic about Live Nation's ability to leverage strong demand for live events and its pricing power to drive long-term earnings growth.

"Third Point initiated a position in Live Nation Entertainment in Q2 2024. It saw what it viewed as an attractive entry point after the shares fell on news of an antitrust lawsuit from the US Department of Justice. The Investment Manager believes the antitrust fears are overblown, and that the company can compound earnings through the next decade, driven by strong demand for concerts, robust pricing power, and a sizeable opportunity to reinvest in owned and operated venues." — Third Point LLC, Q4 2024 Fund Letter

Read full letter at gurufocus Third Point Capital 2024 Q4 page.

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