The Competition Commission has decided to clear the proposed merger of Ticketmaster and Live Nation in the U.K. The Commission decided that the merger of these two companies will not result in a "substantial" lessening of competition in the market.
A statement from both Ticketmaster and Live Nation indicated that they were optimistic there will be a successful outcome in the US.
The goal of this merger is to create a new kind of live entertainment business for the entire sector.
The push back from other ticket brokers and event promoters is that the merger will give Ticketmaster and Live Nation the power to increase ticket prices, or harm its competitors in different parts of the supply chain. The Commission disagrees and states that they would suffer significant short term losses in pursuit of very uncertain long term gains.
We will have to wait and see how this turns out.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment