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: Legal Pad | LA

Live Nation and Ticketmaster countin' on a miracle for merger to go through

By Richard Binder

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The world's largest concert promoter, Live Nation, plans to buy Ticketmaster Entertainment Inc. for about $400 million in stock, aiming to create a company with dominant holdings in concert promotion and ticket sales. The merged company, Live Nation Entertainment, would have more than 140 concert venues globally that sell 140 million tickets annually and host 22,000 concerts a year.

But shares of both Live Nation and Ticketmaster fell on Tuesday, amid concerns the acquisition would be blocked by U.S. antitrust regulators under the new Obama administration. And last week, Connecticut Attorney General Richard Blumenthal said he would look into allegations that Ticketmaster worked with an online subsidiary to inflate prices for tickets to see a Bruce Springsteen concert in New Jersey.

See here and here for details. 

Full post as published by Legal Pad | LA on February 11, 2009 (boomark / email).

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