December 23, 2009 - The United Kingdom Competition Commission said Tuesday (PDF) it will clear the proposed merger of Ticketmaster and Live Nation, but United States and Canadian antitrust regulators are still reviewing the deal.
U.K. regulators concluded that the merger of Ticketmaster, a ticketing agent, and Live Nation, a live music promoter and venue operator, “will not result in a substantial lessening of competition in the market for live music ticket retailing or in any other market in the U.K., including live music promotion and live music venues.”
The commission’s announcement marks a change in course from its provisional decision which expressed concern that the merger could inhibit the entry of Eventim, which is currently providing Live Nation with ticketing software and services, into the U.K.
“We examined how the merged entity might attempt to shut out competitors, for example by Live Nation restricting the availability of tickets for its events to other ticket agents or by Ticketmaster refusing to sell tickets for other promoters and venue operators. However, we found that, in most of these cases, the merged entity would suffer significant and immediate losses, with very uncertain prospects for long-term gain. Therefore, we concluded that it was unlikely that the merged entity would harm other ticketing agencies, promoters and venues in these ways,” said U.K. Competition Commission Deputy Chairman Christopher Clarke.
“Our decision today differs from our provisional findings in October, which is unusual but not unique. The very purpose of publishing our provisional conclusions is to provide all parties with the opportunity to review them and to put forward new evidence or arguments,” Clarke added.
The Associated Press reported Tuesday that shares of Live Nation and Ticketmaster Entertainment rose following the commission’s decision.
The companies, which are both based in the U.S., said the U.K. decision paves the way “for the creation of the world’s premiere live entertainment company.” The proposed merger has already been approved by regulators in Norway and Turkey.
- Facebook CEO Mark Zuckerberg to Tell Congress that Its Cryptocurrency Promotes Financial Inclusivity
- Social Media Both a Cause of and Solution to Epidemic of ‘Fake news,’ Say Panelists at AEI Event
- Broadband Roundup: Bill Aims to Make Social Media Interoperable, Colorado Drops T-Mobile Lawsuit, Indian Country Very Unconnected
- Africa’s Informal Sector Marred by Small Manufacturing Base and Low Technology Adoption, Brookings Experts Say
- Wireless Internet Providers Excited About Multiple Spectrum Sharing Opportunities, Including FCC Priority Access
Signup for Broadband Breakfast
Intellectual Property3 months ago
In Congressional Oversight Hearing, Register of Copyrights Says Office Is Responding to Online Users
Broadband Data5 months ago
Pennsylvania Broadband Speeds Worse Than Previously Believed, According to State Report
Broadband Data4 months ago
California Report: Income Most Significant Factor in Low Broadband Adoption
Privacy and Security2 months ago
Comparing Privacy Policies for Wearable Fitness Trackers: Apple, Fitbit, Xiaomi and Under Armour
Antitrust1 month ago
Addressing the Impact of Big Data Upon Antitrust is More Complicated Than a Big Tech Breakup
Expert Opinion3 months ago
Geoff Mulligan: A ‘Dumb’ Way to Build Smart Cities
Antitrust1 month ago
Broadband Roundup: Everyone (Almost) Gangs Up on Google, Muni Broadband Fact Sheet, SHLB Anchornet Conference
Broadband Roundup2 months ago
Cable Industry Touts Energy Efficiency, Next Century Highlights Open Access Fiber, Aspen Forum Set