Ticketmaster/Live Nation merger conditionally approved

[ph4ever]

UPDATE 2-Live Nation, Ticketmaster deal gets conditional OK
* Justice Dept says must sell a unit, license software

* Comcast unit interested in Paciolan ticketing unit (Recasts with approval announcement; adds WASHINGTON to dateline)

WASHINGTON/NEW YORK, Jan 25 (Reuters) - Ticketing giant Ticketmaster Entertainment (TKTM.O) and concert promoter Live Nation (LYV.N) won U.S. approval to combine on condition they sell a ticketing unit and license ticketing software to a rival concert promoter.

Antitrust enforcers at the Justice Department cleared the merger after negotiating conditions aimed at soothing concerns that the two companies would dominate the market for ticketing major concerts and other events.

Ticketmaster would be required to license its primary ticketing software to Anschutz Entertainment group, the second-largest concert promoter and operator of major venues, and give it the option to buy the software within five years.

Additionally, Ticketmaster will also have to sell its Paciolan Inc ticketing unit. It already has a letter of intent from Comcast Corp's (CMCSA.O) Comcast Spectacor, a sports and entertainment company.

Paciolan could be sold to another buyer the Justice Department finds suitable, the agency said.

"The proposed settlement allows for strong competitors to Ticketmaster, allowing concert venues to have more and better choices for their ticketing needs, and provides for anti-retaliation provisions, which will keep the merged company in check," said Christine Varney, head of the Justice Department's Antitrust Division


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[SharkOnLand]

Seems like this is good news for everybody except the consumer.

[ph4ever]

Seems like this is good news for everybody except the consumer.

This morning the radio was saying it could mean possible lower ticket prices and my first thought was that could be possible IF the performers would lower their "asking price" for their performance.

[RinglingRingling]

Seems like this is good news for everybody except the consumer.

This morning the radio was saying it could mean possible lower ticket prices and my first thought was that could be possible IF the performers would lower their "asking price" for their performance.

somehow I have a feeling that lower ticket prices are wishful thinking. The public is used to paying high prices for tickets, so even if the artist cuts his guarantee-fee, who is to say that the new entity LiveBa$tard won't just keep prices the same and hike their margin?

Is that smart long-term? no. w/ fees adding 50% to the price of some tickets for "convenience", and w/ the rate of tickets for most acts that have a track record.. concert-going is a once-twice a year thing. If you kill the sheep twice a year, you get mutton for Easter and Canadian Thanksgiving. If you lower the prices, you can sheer the sheep a lot more often and get more wool than the weight of the meat. Unfortunately, that requires thinking past the next quarterly or annual report.

[pair8head]

Dang it, I left my popcorn in the other thread and Penny locked it.

[RinglingRingling]

Dang it, I left my popcorn in the other thread and Penny locked it.

maybe it'll find its way over here

[moog]

I think I'll take advantage of this merger. I'll start up a company and call it Ticketron. I'll sell tickets without extra charges. My current job will support me during this American Dream phase of my life. When I gross 4 billion dollars third quarter 2010, Ticketmaster can buy me out and I can retire from my current job. I'll spend the money I make from the sale to see shows at non profit venues only.

The ole noggin is hard at work. Boy, does it hurt.

[spucketts]

From the WSJ: "Live Nation Chief Executive Michael Rapino and Ticketmaster Chief Executive Irving Azoff have previously said they would like to use their combined clout to set ticket prices that more accurately reflect their market value. That means that they would charge more for the most desirable seats and perhaps lower the price for the rest."

Basically states that the desirable seats, such as those for a Buffett show (and we've all seen what those tickets cost through scalpers) will go up, while prices for shows that don't typically sell out will go down.

[RinglingRingling]

From the WSJ: "Live Nation Chief Executive Michael Rapino and Ticketmaster Chief Executive Irving Azoff have previously said they would like to use their combined clout to set ticket prices that more accurately reflect their market value. That means that they would charge more for the most desirable seats and perhaps lower the price for the rest."

Basically states that the desirable seats, such as those for a Buffett show (and we've all seen what those tickets cost through scalpers) will go up, while prices for shows that don't typically sell out will go down.

so if you really love the Backstreet Boys... yer hosed.

[ph4ever]

Oh I'm so overjoyed that seat costs will go up.

Basically if you like any "popular" artist you're hosed, so tell me how is this something to benefit the consumer? How is this a change?

here's the link to that article spucketts mentioned http://online.wsj.com/article/SB1000142 ... 17008.html

[C-Dawg]

yeah, as I posted in the now locked thread......we about to get f**ked!!!

[surfpirate]

From the WSJ: "Live Nation Chief Executive Michael Rapino and Ticketmaster Chief Executive Irving Azoff have previously said they would like to use their combined clout to set ticket prices that more accurately reflect their market value. That means that they would charge more for the most desirable seats and perhaps lower the price for the rest."

Basically states that the desirable seats, such as those for a Buffett show (and we've all seen what those tickets cost through scalpers) will go up, while prices for shows that don't typically sell out will go down.

so if you really love the Backstreet Boys... yer hosed.

".... they would charge more for the most desirable seats and perhaps lower the price for the rest"


I interpret that to mean they would charge for tickets/seats based on their desirability.
- more for front row/orchestra seats for show/artist
- less for back pavilion/lawn for show/artist

i.e. today front row costs the same as the last row in the pavilion. Not so in the *new world*.

[pair8head]

Oh I'm so overjoyed that seat costs will go up.

I'm so happy I sent the head of the Anti Trust Division of the Department of Justice a thank you note.

I want to thank you for making it near imposable for me to be able to
afford tickets to concerts of my favorite musicians.

Now that you have insured that the ticket prices will be too high for me to afford I can
concentrate on other things important to me. Like helping the Republican Party remove
the Democrats from office and maybe causing you to loose your jobs.

[RinglingRingling]

From the WSJ: "Live Nation Chief Executive Michael Rapino and Ticketmaster Chief Executive Irving Azoff have previously said they would like to use their combined clout to set ticket prices that more accurately reflect their market value. That means that they would charge more for the most desirable seats and perhaps lower the price for the rest."

Basically states that the desirable seats, such as those for a Buffett show (and we've all seen what those tickets cost through scalpers) will go up, while prices for shows that don't typically sell out will go down.

so if you really love the Backstreet Boys... yer hosed.

".... they would charge more for the most desirable seats and perhaps lower the price for the rest"


I interpret that to mean they would charge for tickets/seats based on their desirability.
- more for front row/orchestra seats for show/artist
- less for back pavilion/lawn for show/artist

i.e. today front row costs the same as the last row in the pavilion. Not so in the *new world*.

basically... "we are gonna get scalper prices without the scalper". Ba$tards are eliminating jobs in a down economy...

[spucketts]

Keep in mind here, according to the WSJ article, WE are not the customer for Ticketmaster/Livenation, the venue is. In otherwords Ticketmaster is saying to, in my case Lakewood (which is owned by the city of Atlanta), we can fill your venue for $X, which is higher than what the other two ticket sales/promoters can deliver. And until they can't deliver 100% sales at that price, the price will continue to go up.

[spucketts]

From the WSJ: "Live Nation Chief Executive Michael Rapino and Ticketmaster Chief Executive Irving Azoff have previously said they would like to use their combined clout to set ticket prices that more accurately reflect their market value. That means that they would charge more for the most desirable seats and perhaps lower the price for the rest."

Basically states that the desirable seats, such as those for a Buffett show (and we've all seen what those tickets cost through scalpers) will go up, while prices for shows that don't typically sell out will go down.

so if you really love the Backstreet Boys... yer hosed.

".... they would charge more for the most desirable seats and perhaps lower the price for the rest"


I interpret that to mean they would charge for tickets/seats based on their desirability.
- more for front row/orchestra seats for show/artist
- less for back pavilion/lawn for show/artist

i.e. today front row costs the same as the last row in the pavilion. Not so in the *new world*.

True prices are the same for all reserved seats but it's already a disaster trying to sell them the way they are the day tickets go on sale. Couldn't you see the mess if there was a range of prices? "What do you have in a $110 range? How about in the $135 range? And for $100? " It would take all day.

[RinglingRingling]

Keep in mind here, according to the WSJ article, WE are not the customer for Ticketmaster/Livenation, the venue is. In otherwords Ticketmaster is saying to, in my case Lakewood (which is owned by the city of Atlanta), we can fill your venue for $X, which is higher than what the other two ticket sales/promoters can deliver. And until they can't deliver 100% sales at that price, the price will continue to go up.

but no.. everybody wins with this... really. this merger is a great thing. really. and no, this isn't disagreeing with you Spuck. It's annoyance that anyone would believe that "everyone wins" with this.

Concentration of any industry isn't a win. While a certain "economy of scale" is good, beyond a certain point, with fewer players in the game, the competition that drives innovation and generates benefits for all turns into inertia, collusion, and price-fixing that benefits the few. That that comes with the blessing of regulatory agencies makes it that much harder to swallow, and the idea of government of the people, by the people, for the people takes another hit.

[Hockey Mon]

So is the new company going to be called "Live TicketMaster Nation Entertainment"?

I see it now, buy your tickets for Jimmy Margaritaville Buffett at Jiffy Lube Live through Live TicketMaster Nation Entertainment.

Tickets will now cost one million dollars because of all the extra ink they need to use on the tickets and for advertising.

[RinglingRingling]

So is the new company going to be called "Live TicketMaster Nation Entertainment"?

I see it now, buy your tickets for Jimmy Margaritaville Buffett at Jiffy Lube Live through Live TicketMaster Nation Entertainment.

Tickets will now cost one million dollars because of all the extra ink they need to use on the tickets and for advertising.

I am saving ink, and electrons.. LiveBa$tard works for me.

[ph4ever]

From the WSJ: "Live Nation Chief Executive Michael Rapino and Ticketmaster Chief Executive Irving Azoff have previously said they would like to use their combined clout to set ticket prices that more accurately reflect their market value. That means that they would charge more for the most desirable seats and perhaps lower the price for the rest."

Basically states that the desirable seats, such as those for a Buffett show (and we've all seen what those tickets cost through scalpers) will go up, while prices for shows that don't typically sell out will go down.

so if you really love the Backstreet Boys... yer hosed.

".... they would charge more for the most desirable seats and perhaps lower the price for the rest"


I interpret that to mean they would charge for tickets/seats based on their desirability.
- more for front row/orchestra seats for show/artist
- less for back pavilion/lawn for show/artist

i.e. today front row costs the same as the last row in the pavilion. Not so in the *new world*.

True prices are the same for all reserved seats but it's already a disaster trying to sell them the way they are the day tickets go on sale. Couldn't you see the mess if there was a range of prices? "What do you have in a $110 range? How about in the $135 range? And for $100? " It would take all day.

I've seen several venues that have a range of prices for reserved seats. I don't understand how that would be any different now.

Keep in mind here, according to the WSJ article, WE are not the customer for Ticketmaster/Livenation, the venue is. In otherwords Ticketmaster is saying to, in my case Lakewood (which is owned by the city of Atlanta), we can fill your venue for $X, which is higher than what the other two ticket sales/promoters can deliver. And until they can't deliver 100% sales at that price, the price will continue to go up.

While that may be what WSJ says isn't the ultimate purchaser the consumer?

So let me re-phrase and say that the concert goer is totally screwed up the butt with no lube. But honestly, isn't that pretty much the case prior to this merger? The only difference now is that they are bigger and stick it in harder and farther.