Report: Live Nation, TicketMaster Negotiating With DOJ
October 16, 2009 at 5:09 AM (PT)
LIVE NATION and TICKETMASTER ENTERTAINMENT have reportedly entered into negotiations with the Department of Justice, reports THE NEW YORK POST "about divesting one of their ticketing operations in an effort to get their merger approved. Two sources close to the situation said the DoJ is concerned that keeping both ticketing divisions under the same roof could harm consumers by resulting in higher prices for concerts."
The proposed merger was shot down in BRITAIN last week by the Competition Commission -- which suggested it would OK the deal if one of the ticketing operations in the U.K. was sold.
THE POST writes regulators have "paid particularly close attention" to the two "since BRUCE SPRINGSTEEN accused TICKETMASTER of directing consumers to its more expensive secondary ticketing website, TICKETSNOW, even though concert tickets were still available at TICKETMASTER."