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Article: Live Nation deal with Ticketmaster blocked
- Article from:
- The Independent (London, England)
- Article date:
- October 9, 2009
- Author:
CopyrightCopyright 2009 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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Regulator rules UK businesses may have to be sold to overcome
objections Companies claim deal crucial to future of ailing industry
but Springsteen opposes
The "mega-merger" between Ticketmaster Entertainment and Live
Nation was thrown into doubt yesterday when regulators blocked the
deal on anti-competitive grounds.
The Competition Commission provisionally ruled against the
proposed $2.5bn (1.5bn) deal, saying it would "limit the development
of competition in the market for live music ticket retailing". It
fears the creation of such a dominant player would block competition
in the market and drive up the price of concert tickets. To get the
go-ahead, one of the companies may have to offload ...