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article imageLive Nation-Ticketmaster Merger Drawing Scrutiny From DOJ

By B. Thomas Cooper     Mar 20, 2009 in Business
Live Nation and Ticketmaster have big plans for the future, providing the U.S. Department of Justice doesn’t interfere with a proposed merger.
The Department of Justice is pressing for more information on the proposal, and representatives from the companies are said to be cooperating, having in fact, anticipated such a request.
Questions concerning the merger of the two industry giants abound. Performers and fans alike fear a merger of this magnitude would certainly constitute a monopoly, driving up ticket prices, restricting access to choice concert seating, and other issues.
Ticketmaster, the largest seller of concert tickets, has drawn criticism for it’s practices in the past. Many fans claim the company ‘redirected them to its resale sites to charge more than the face value of the tickets‘, a claim Ticketmaster chairman Barry Diller denies.
Not surprisingly, the DOJ is moving forward with its anti-trust investigation, perhaps not standard procedure, but also not unexpected.
According to Live Nation, the company sells over 45 million concert tickets a year, in 57 different countries. Ticketmaster offers tickets to an array of events, including sporting events, Arts, Theater, and of course, kids presentations, like Disney On Ice and current teen heart-throbs, Jonas Brothers. Both companies are listed on the New York Stock Exchange.
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