LOS ANGELES and WEST HOLLYWOOD, Calif., Jan 25, 2010 -- Live Nation, Inc. and Ticketmaster Entertainment, Inc. today announced that they have reached agreements with the U.S. Department of Justice (DOJ) and with the Canadian Commissioner of Competition, clearing the way for the merger of the companies. Upon closing, the company will be renamed Live Nation Entertainment, Inc. to reflect the combination of Live Nation's concert promotions expertise with Ticketmaster's world-class ticketing solutions and artist relationships.
Let's face it. For live music they are the only game in town. You know that ticket prices will soar. Oh, not at once...why risk public outcry and government intervention? A gradual increase will do. The Diller machine will make money on both ends of the business. After all of the investigations (like the the NJ State Attorney General's office) they still received approval for the merger. The higher prices will drive away fans of all but the top tier acts. The music business is in for more hard times.
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