AfterDawn: Tech news

Live Nation and Ticketmaster plan merger

Written by Rich Fiscus (Google+) @ 12 Feb 2009 15:01 User comments (3)

Live Nation and Ticketmaster plan merger Concert promotion giant Live Nation and ticketing juggernaut Ticketmaster are planning to merge into a single company. The new company, which they intend to call Live Nation Entertainment, would arguably be the single most powerful force in the US live music business. And that is why it wlil be getting an enourmous amount of attention from the Federal Governmment before they allow it to happen.
Ticketmaster's near-monopoly of ticket sales in major US concert venues in the 1990 was the subject of more than a little controversy. During that time Pearl Jam famously boycotted Ticketmaster-served venues in protest of the service fees they charge for each ticket.

More recently Bruce Springsteen has railed against the company for allegedly redirecting ticket buyers to the website of a subsidiary, which then charges an additional markup beyond the standard price.

In the last few years Live Nation has managed to become a serious competitor in the ticketing business. Last year they also made headlines by sgning Madonna to a so-called 360 deal, which involved a three album deal with Live Nation owning the albums as well as all merchandise rights and tour profits in exchange for $120 million.

Springsteen recently issued a statement saying "the one thing that would make the current ticket situation even worse for the fan than it is now would be Ticketmaster and Live Nation coming up with a single system, thereby returning us to a near monopoly situation in music ticketing."

Previous Next  

3 user comments

112.2.2009 15:21

I'm sorry, Madonna is worth that much?

Quote:
In the last few years Live Nation has managed to become a serious competitor in the ticketing business. Last year they also made headlines by sgning Madonna to a so-called 360 deal, which involved a three album deal with Live Nation owning the albums as well as all merchandise rights and tour profits in exchange for $120 million.

212.2.2009 19:28

Now here is a monopolistic racket that heavily controls venues,touring and ticket sales and who tickets are sold to at what price and allows for scalping from authorized sources only.

Holy fck it needs to be killed now killed with fiya!!!!!!!!!!!!!!!!

313.2.2009 0:18

Note the word "plan". This will have to be reviewed by the DOJ/FTC under the Hart-Scott-Rodino Act (assuming the value exceeds the filing threshold). That's when consumers should bombard the agencies with complaints against the merger.

Comments have been disabled for this article.

News archive