Ticketmaster Entertainment and Live Nation's proposed merger is under the microscope. The Department of Justice asked the two companies for more information, this second request putting up a red flag that this deal is under particular scrutiny. The companies are brushing it off — saying they're cooperating. Yesterday on Ticketmaster's post-earnings conference call the company said it expects the deal to close in the second half of this year.
The D.O.J. is trying to figure out whether this merger would create a detrimental monopoly. Ticketmaster is the world's largest ticketing company, LiveNation is the world's largest concert promoter. Sirius and XM Satellite radio got their merger approved, and the combined company is still struggling — monopoly didn't help there. Let's see what the D.O.J says.
Yesterday I blogged about Ticketmaster Entertainment's earnings— it posted a $1 billion loss on an accounting charge. I also detailed some of the criticism Ticketmaster faces for reselling tickets for higher prices on its resale websites.
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