Page last updated at 06:56 GMT, Tuesday, 26 January 2010

US regulator clears music merger

Madonna
Madonna is one of the artists signed to Live Nation

The merger of ticket agent Ticketmaster and concert promoter Live Nation has been approved by the US Department of Justice.

The newly formed company will be known as Live Nation Entertainment Inc.

But Ticketmaster must license its ticketing software to a competitor, and to sell a subsidiary that handles tens of millions of tickets a year.

It is hoped this will create competition in the worlds of ticketing contracts and concert promotion work.

'Selling platform'

In the UK, the merger had been approved by the Competition Commission in December, reversing a previous opinion that the deal could lead to music fans paying more for tickets to see live performances.

Meanwhile in the US, consumer groups, ticket resellers and some politicians have been worried that the new firm will control too much of the concert-going experience.

The new firm will promote concerts, and sell tickets, beer and parking, as well as putting out albums and managing an artist roster that includes U2, Madonna, Jay-Z and the Eagles.

Michael Rapino, chief executive of Live Nation and the newly merged company, said the coming together would create "a more diversified company with a great selling platform for artists and a stronger financial profile that will drive improved shareholder value over the long term".



Print Sponsor


SEE ALSO
UK regulator clears music merger
22 Dec 09 |  Business
Music merger 'anti-competitive'
08 Oct 09 |  Business
Inquiry into Ticketmaster merger
10 Jun 09 |  Business
Jay-Z parts with Def Jam Records
22 May 09 |  Entertainment
Fears over concert ticket firms' merger
13 Feb 09 |  Business
Ticketmaster and Live Nation merge
11 Feb 09 |  Music

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC iD

Sign in

BBC navigation

Copyright © 2020 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific