BuffettNews.com

Question is, can they do it before Saturday so we can move all the buffett shows from Live Nation to Ticketmaster

From NYPOST

In a blockbuster deal that will realign the music industry's balance of power, concert-promotion giant Live Nation and Ticketmaster Entertainment, the nation's largest ticketing operation, are planning to merge, The Post has learned.

According to a source familiar with the negotiations, talks between the two companies are at an advanced stage and a vote on a deal could be put to Live Nation's board as soon as Wednesday.

The source cautioned, however, that talks are at a delicate stage and could fall apart amid last-minute wrangling over finer points of a merger.

The source said the deal is currently seen as a merger of equals, with the board of the combined company totaling 14 members to accommodate equal representation from both companies.

Barry Diller, CEO of Ticketmaster parent company InterActiveCorp, will serve as chairman of the combined company, while Live Nation CEO Michael Rapino will be chief executive.

It's unclear what responsibilities Ticketmaster CEO Irving Azoff, the legendary manager of The Eagles, Guns N' Roses and other acts, will have in the new company, though it is assumed he will have some role.

Representatives for Live Nation refused to comment. Ticketmaster and Diller did not return calls and emails for comment.

The impending merger comes as Live Nation and Ticketmaster were about to go head-to-head on the ticketing front, as Live Nation spent much of last year building the infrastructure to support its own ticketing business.

That, in turn, prompted fear on Wall Street about Ticketmaster's prospects, particularly since the company has only recently been spun out of IAC as a standalone business.

Indeed, Diller brought Azoff to Ticketmaster in part because Azoff's control of artist-management firm Frontline Management would help even the playing field against Live Nation.

While Live Nation's foray into ticketing was cheered by Wall Street, its rich deals to sign top acts like Madonna and Jay-Z were roundly criticized.

Live Nation's stock fell precipitously as a result of the bad publicity and an ugly internal power struggle between Rapino and former chairman Michael Cohl erupted into public view.

Rapino won the battle, and if he can sign the deal with Ticketmaster, he may have won the war. Without question, a combined Live Nation-Ticketmaster will be able to deal with the major record labels on its terms rather than vice versa.

Here's my immediate thought:


Out in Hollywood, the paper money rolls
They feed their egos, instead of their souls
A million here, a million there, a mindless corporate dance
Get paid for f****' off, in the south of France
They don't do the shows, but they act like the stars
They fly around in G4's and s*** on big cigars
It ain't about the talent, it ain't about the skill
It's all about the silly stupid ***** deal

A bit more info in the Reuter's article:

The new company would be called Live Nation Ticketmaster, marrying the world's biggest concert promoter with the dominant ticketing and artist-management company.

http://news.yahoo.com/s/nm/20090204/med ... venation_1


Great.. let's hope they revert to old Tickemaster's model... I can't believe I just typed that.

Mods, may want to merge these topics: viewtopic.php?f=31&t=74941

Steele1161 wrote: Without question, a combined Live Nation-Ticketmaster will be able to deal with the major record labels on its terms rather than vice versa.

funny how there's no mention of any benefit to the consumer.

AlbatrossFlyer wrote:

Steele1161 wrote: Without question, a combined Live Nation-Ticketmaster will be able to deal with the major record labels on its terms rather than vice versa.

funny how there's no mention of any benefit to the consumer.

Yeah, I don't think we are part of that equation.

PA PAR8 HED wrote:

AlbatrossFlyer wrote:

Steele1161 wrote: Without question, a combined Live Nation-Ticketmaster will be able to deal with the major record labels on its terms rather than vice versa.

funny how there's no mention of any benefit to the consumer.

Yeah, I don't think we are part of that equation.

I'm no math major but I think the equation is something like this;

TM + LN (consumer) = $$$$$$

A merger of these two "titans of excellence in customer service and fair prices"??????

Oh, that can't be good..........

Live Nation and Ticketmaster Announce Merger Agreement

According to the press release, Live Nation and Ticketmaster will combine their ticketing, marketing, data centers and back-offices. “The companies will be combined in a tax-free, all-stock merger of equals with a combined enterprise value of approximately $2.5 billion,” it reads. “Under the agreement, Ticketmaster shareholders will receive 1.384 shares of Live Nation common stock for each share of Ticketmaster they own, subject to certain adjustments defined within the agreement. Live Nation and Ticketmaster shareholders will each own approximately 50 percent of the combined company.”

So how will this affect consumers? In light of the two companies’ recent battles with Phish and Bruce Springsteen fans due to bungled onsales, the announcement promises Live Nation Entertainment will improve access and transparency, create more choice in ticket price options, invest in better ticketing technology and increase event attendance. On a conference call today, Ticketmaster blamed a glitch involving Visa credit cards for the Springsteen debacle, saying the cards froze the system and routed fans to Tickets Now.

While it sounds good on paper for both sides, the merger will likely face a significant antitrust battle as it appears the two companies will be forming a ticketing monopoly. Ticketmaster has faced such allegations in the past; joining forces with the company that was supposed to serve as its competition will likely garner a long look from both the Justice Department and Federal Trade Commission.

Bruce Springsteen has already spoken out against the merger, saying, “The one thing that would make the current ticket situation even worse for the fan than it is now would be Ticketmaster and Live Nation coming up with a single system, thereby returning us to a near monopoly situation in music ticketing. If you, like us, oppose that idea, you should make it known to your representatives.” Springsteen now has a friend in the Oval Office who said in 2007, “Antitrust helps to keep that system in force. It addresses the temptation that some businesses will sometimes experience, to merge with key rivals instead of outperforming them, to agree not to compete too hard, or to sabotage rivals’ efforts to serve consumers instead of redoubling their own.” It’s safe to assume Live Nation Entertainment’s journey toward approval will certainly be Sisyphusian.

I am curious why it is that the only performer speaking out on the whole Ticketmaster/Ticketsnow/Livenation thing is Bruce Springsteen, could it be that he's the only one who actually cares about his fan base??

Actually the merger didn't go thru. After getting a spinning loading icon for 10 minutes, the site went to another page and the chairman of Ticketmaster, Barry Diller, clicked on Ticketron in error.

The new company will be called Tronmaster

I just tried the LN site to purchase tixs for 6/18 Camden, NJ and was redirected onto Ticketmaster. ??????? In giant format I thought my computer was hacked

LIBuffettFan wrote:I am curious why it is that the only performer speaking out on the whole Ticketmaster/Ticketsnow/Livenation thing is Bruce Springsteen, could it be that he's the only one who actually cares about his fan base??

Springsteen is upset because when tickets for his shows went on sale recently through Ticketmaster they apparently sold out in mere minutes. Fans trying to buy through ticketmaster.com were redirected to a service called Ticketsnow. This service is an in house broker for Ticketmaster and the prices for Springsteen tickets were sky high.

Springsteen was p*** that his fans were treated in such a way by Ticketmaster/Ticketsnow and an investigation is underway

urlcenter wrote:

LIBuffettFan wrote:I am curious why it is that the only performer speaking out on the whole Ticketmaster/Ticketsnow/Livenation thing is Bruce Springsteen, could it be that he's the only one who actually cares about his fan base??

Springsteen is upset because when tickets for his shows went on sale recently through Ticketmaster they apparently sold out in mere minutes. Fans trying to buy through ticketmaster.com were redirected to a service called Ticketsnow. This service is an in house broker for Ticketmaster and the prices for Springsteen tickets were sky high.

Springsteen was p*** that his fans were treated in such a way by Ticketmaster/Ticketsnow and an investigation is underway

Yeah, but why is no one else speaking out against this company? I'd be suprised if Pearl Jam has anything to say, since no one backed them up when they took Ticketmaster to court pretty much over this same situation years ago.