DOJ Approves Ticketmaster – Live Nation Merger
[via - WSJ]
“After nearly a year of review, the Justice Department on Monday set the conditions under which it will permit concert promoter Live Nation Inc. to merge with ticket-selling and artist-management powerhouse Ticketmaster Entertainment Inc., in a deal that could reshape the music industry. As laid out in a briefing in Washington, the conditions appeared relatively straightforward and shouldn’t pose major obstacles, thereby clearing the way for the creation of single entity that will be able to manage artists, book them in venues which it owns and sell tickets to their concerts. It will also be able to sell merchandise, run fan clubs, and in some cases sell recorded music. The Justice Department said in a statement that the conditions would “preserve competition” in the U.S. ticketing business.
“We were prepared to litigate this case, and I told the parties that,” Christine Varney, the head of the Justice Department’s antitrust division, told reporters. (continue reading article at WSJ.com)
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