Thread: Anti-trust?

curious how do you feel about this merger and do you think it is a violation of anti-trust laws. Also do you think they should be allowed to or should they not?

http://money.cnn.com/2009/02/24/news...tion/index.htm

[quoThe CEOs of Ticketmaster and Live Nation testified before a Senate antitrust panel Tuesday to defend their proposed merger, which would combine the nation's biggest concert promoter with the largest seller of live entertainment tickets.

The merger is expected to close in the second half of the year. The Senate Committee on the Judiciary's hearing is the government's first look at the new company, which has raised antitrust concerns.

Committee Chairman Herb Kohl, D-Wisc., scheduled the hearing before the subcommittee on Antitrust, Competition Policy and Consumer Rights.

Critics of the merger proposal complain that the arrangement will push out independent promoters, and venues will lose the leverage from two large companies fighting for their business.

Similarly, many music fans and some performers have criticized the two companies, saying they raise ticket prices and impose numerous surcharges.

According a statement Kohl released, Live Nation owns or has operating agreements with 140 venues, 30 music festivals, and 305 large arenas. It also has exclusive deals with major artists, including U2, Madonna, and the Jonas Brothers.

By some accounts, Ticketmaster controls 70-80% of all concert ticket sales, Kohl's statement said.te=CNN][/quote]

theres more in the article, but its fairly long so didn't want to post it all