Author Topic: Ticketmaster/Live Nation near merger (Wall Street Journal)  (Read 45753 times)


azaghal1981

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Re: Ticketmaster/Live Nation near merger (Wall Street Journal)
« Reply #61 on: July 17, 2009, 02:12:15 am »
Monopoly Rules


Good, in-depth Philadelphia Weekly piece on the topic.
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sweetcell

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Re: Ticketmaster/Live Nation near merger (Wall Street Journal)
« Reply #62 on: October 09, 2009, 09:06:09 pm »
Live Nation / TM Release Joint Statement
Live Nation and Ticketmaster have released a joint statement regarding the U.K.'s competition regulator's provisional ruling against the merger.  The complete statement follows.

"Live Nation and Ticketmaster respect the Competition Commission for its analysis of the merger and have cooperated, and will continue to cooperate, fully during this ongoing process. Both our companies are committed to this merger and look forward to addressing any and all issues that the commission deems necessary.

"But we must be clear about the challenges of the music industry, which is at a decisive crossroad. The recording industry is a shell of its former self. Where the recording industry was once the economic engine for the music business, it is live entertainment that is now the future of the music industry.

"We believe this merger will build a more efficient and effective company moving forward, and that working together we will be able to help achieve needed change that will strengthen a flagging music industry.

"During the course of this merger process, Live Nation and Ticketmaster have listened to our fans, artists and other stakeholders. We?ve heard a range of views regarding the issues and challenges facing the live music industry. We firmly believe that our merger achieves an important and much needed public interest, and remain optimistic that it will ultimately be approved."

Click here for this morning?s report ? "LN-Ticketmaster Blocked In UK."

http://pollstar.com/blogs/news/archive/2009/10/08/692957.aspx
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azaghal1981

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Re: Ticketmaster/Live Nation near merger (Wall Street Journal)
« Reply #63 on: October 09, 2009, 09:11:58 pm »
Nice.


Hopefully the US follows suit (although both companies have friends in much higher places here).
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hutch

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Re: Ticketmaster/Live Nation near merger (Wall Street Journal)
« Reply #64 on: October 09, 2009, 09:39:10 pm »
Awesome! Live Nation/Ticketbastard are now trying to argue that the fate of the music industry depends on them being able to merge!




vansmack

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Re: Ticketmaster/Live Nation near merger (Wall Street Journal)
« Reply #65 on: October 09, 2009, 09:49:42 pm »
Read that in the Economist last night and meant to post.  Got drunk and forgot.  My bad.
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azaghal1981

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Re: Ticketmaster/Live Nation near merger (Wall Street Journal)
« Reply #66 on: October 09, 2009, 10:05:44 pm »
That claim/statement is an absolute riot. It was the same bullshit they were attempting to convince the judiciary committee of during that hearing back in february.
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kosmo vinyl

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Re: Ticketmaster/Live Nation near merger (Wall Street Journal)
« Reply #67 on: October 09, 2009, 10:14:51 pm »
If someone wanted to help the flagging music industry, they'd banish Simon Cowell from the airways.
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sweetcell

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Re: Ticketmaster/Live Nation near merger (Wall Street Journal)
« Reply #68 on: October 09, 2009, 11:08:37 pm »
That claim/statement is an absolute riot. It was the same bullshit they were attempting to convince the judiciary committee of during that hearing back in february.

taking a step back: they have to say something like that.  normally, during a merger, the only explanation that one makes is "it makes sense for us to do this".  but given the monopolistic impact of this merger, TM & LN need to explain how "it makes sense for everyone".  it's not that they necessarily believe their BS, it's that they need some sort of BS for this plan to have a shot at succeeding.

their thought process was not "let's save the music industry., but how.. i know, we'll merge!".  it's was "let's merge, but the feds probably won't let us - how can we sell this plan?  i know, we'll claim we're saving the industry!".  that they put forth some sort of "greater good" story was to be expected.  too bad that couldn't come up with one that is more believable and less insulting to the public's intelligence.
« Last Edit: October 09, 2009, 11:11:24 pm by sweetcell »
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Seth Hurwitz

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Re: Ticketmaster/Live Nation near merger (Wall Street Journal)
« Reply #69 on: October 10, 2009, 09:33:39 am »
during the course of all this, they have never put forth a single sentence explaining just how this merger will create their own efficiencies, let alone save the industry

they just keep saying that it will

Julian, Alleged Computer F**kface

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Re: Ticketmaster/Live Nation near merger (Wall Street Journal)
« Reply #70 on: October 10, 2009, 12:10:28 pm »
during the course of all this, they have never put forth a single sentence explaining just how this merger will create their own efficiencies, let alone save the industry

they just keep saying that it will
Hey, this strategy won Obama a Nobel Peace Prize.

sweetcell

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Re: Ticketmaster/Live Nation near merger (Wall Street Journal)
« Reply #71 on: October 17, 2009, 07:44:35 pm »
anyone have a WSJ online account?  i'd love to read the full article...

WSJ Says TM/LN Merger A Long Haul

The Live Nation-Ticketmaster merger is not going to be as simple as some on the inside have made it out to be, according to several sources who talked to the Wall Street Journal.

The merger is facing ?stiff resistance? from the Justice Department and will require ?major concessions,? according to the WSJ. Negotiations are continuing but department officials have made it clear there are elements in the merger that could prompt the DOJ to sue to block the merger, according to one source.

Justice Department antitrust chief Christine Varney has said she plans to scrutinize, more than officials of the last presidential administration, vertical integration with, as the WSJ put it, ?several links in the chain between producer and consumer controlled by a single entity.?

A DOJ spokeswoman said the matter is still open, and representatives from Ticketmaster and Live Nation declined to comment.

The in-depth story is available, with subscription, here: http://online.wsj.com/article/SB10001424052748704112904574475563303463526.html

(source: http://pollstar.com/blogs/news/archive/2009/10/16/694077.aspx)
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MonkeyPants

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vansmack

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Re: Ticketmaster/Live Nation near merger (Wall Street Journal)
« Reply #73 on: December 22, 2009, 07:39:46 pm »
Our friends at the club have geared up for action:

Concert Fans Beware!

There?s a train wreck about to happen and consumer groups say YOU will be the victim if the two most powerful corporate interests in the live concert business get their way. But you can help stop the merger of Ticketmaster and Live Nation. The government needs to hear from music fans now. Tell the Department of Justice that you?re against these monopolies amassing illegal power over consumers, before it?s too late. antitrust.complaints@usdoj.gov

As a concertgoer you have already felt the pain, and if Ticketmaster and Live Nation get their way, it?ll get worse. In the last 12 years, since Live Nation and its predecessor started its widespread takeover of the concert industry, concert ticket prices have shot up 82% while the consumer price index has gone up just 17%*. We are concerned that if the two concert industry behemoths, Live Nation and Ticketmaster, are permitted to merge, the variety and quality of artists coming to local venues will be affected, and your costs could rise further and faster.

Five of the nation?s most prominent public interest groups called on the Department of Justice to block the proposed merger of Ticketmaster and Live Nation:

?Consumers deserve a fair deal in the entertainment marketplace, not the fewer choices and higher prices that would result from this merger,? said Susan Grant, Director of Consumer Protection at Consumer Federation of America

?This merger is an insult to both musicians and consumers,? said James Love, Director of Knowledge Ecology International

?We cannot envision a remedy that would ease this chilling impediment to competition? In the absence of other effective, expeditious remedies, the proposed transaction should be prohibited.? American Antitrust Institute White Paper

As described by Senator Herb Kohl (WI) in the House Antitrust hearing, ?This merger will not only expand Ticketmaster?s control of the ticketing market by eliminating a competitor, but it is also creating an entity that will control the entire chain of the concert business ? from artist management to concert promotion and production to ticketing and ticket resale.?

?This merger would be a disaster for consumers. Nothing short of blocking this takeover of the ticket market by two industry behemoths will be acceptable,? said National Consumers League Executive Director Sally Greenberg

?As president, I will direct my administration to reinvigorate antitrust enforcement. I will step up review of merger activity and take effective action to stop or restructure those mergers that are likely to harm consumer welfare?,? said Senator Barack Obama when he was campaigning for the presidency.

If you agree with the consumer groups and lawmakers, make a difference and LET YOUR VOICE BE HEARD NOW.

Send a message to the Antitrust Division of the Department of Justice telling them you support President Obama?s campaign promise to protect the American public from abusive monopolies.

antitrust.complaints@usdoj.gov

To learn more, check out:

ticketdisaster.org

Public Interest Groups Call on Justice Department to Block Ticketmaster/LiveNation/Comcast Merger

American Antitrust Institute's White Paper TICKETMASTER - LIVE NATION

Philadelphia Weekly?s cover story ?Monopoly Rules?

Signed,

The 9:30 Club, I.M.P., Merriweather Post Pavilion, Jam Productions, Metropolitan Talent, Another Planet Entertainment, Frank Productions, Stone City Attractions, Rams Head Live, The Black Cat ... and independent concert promoters and venue operators nationwide.

*Study by Princeton University economist Alan Krueger
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Driveway

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Re: Ticketmaster/Live Nation near merger (Wall Street Journal)
« Reply #74 on: December 22, 2009, 08:41:52 pm »
IMP has their own interests in this, not ours.  Seth has already said he won't  care about high ticket prices until people stop coming.  The tickeyfly service charges definitely aren't helping reduce the 82% rise in ticket prices that their own press release complains about.  I hate ticketmaster and livenation... but, practice what you preach.