Ticketmaster, Live Nation to merge
The United States Justice Department has made it possible for concert promoter Live Nation and ticket provider Ticketmaster to combine. The merger is going to be made with many measures taken to prevent a monopoly and drive competition to decrease ticket prices.
Assistant Attorney General Christine Varney said Ticketmaster would have to license its ticketing software to competitor Anschutz Entertainment Group Inc. and sell its subsidiary Paciolan to Comcast Corp. subsidiary Comcast-Spectacor. Paciolan sells tens of millions of tickets every year, she said.
Both companies are headquartered in Southern California and say that the combined effort will help the survival of the outfit. Because of a streamlined operation and the ability to generate money in new ways, the benefit to music fans will be lower tickets prices.
The merged entity would also be under a 10-year court order prohibiting it from retaliating against venues that choose to sign ticket-selling contracts with competitors.