Great now they can steal more of our money.
Great now they can steal more of our money.
Originally Posted by woogie846
Kind of strange, but it appears that Jimmy Buffett at Irvine is going on sale on Ticketmaster on Monday even though the show is at Verizon Amp so it should be on sale via Live Nation. Maybe Live Nation is moving big shows back to TM until it can figure out its server issues??
This Ticketmaster merger could be seen as creating a monopoly because of the massive size and lack substantial competition.
Story today with some other tidbits
Soon after the Wall Street Journal reported that Live Nation and Ticketmaster Entertainment were in merger talks, everyone from bloggers to the New York Times speculated on what it ultimately meant for the music industry. But could it all be just sound and fury, ultimately signifying nothing?
Neither company has issued a statement confirming or denying the talks, which can be interpreted as a form of confirmation they are talking. A Live Nation spokesman told Pollstar the company does not comment on “market speculation” and a Ticketmaster spokesman had a similar response. But if a merger deal does come to fruition, it would signify the next step in the continuing transformation of the entire music industry.
But let’s take a different tack and dumb it down. Which of the following raises stock prices and which lowers them: Talks of merger – or, instead, Live Nation announcing it is abandoning its ticketing system and becoming, once again, a Ticketmaster client?
The timing of the announcement comes so soon after Live Nation’s new ticketing system melted down during its first major on-sale, it begs the question of what’s driving the talks.
The Phish tour went on sale January 30 with a system Live Nation thought could handle high demand levels. Instead, the on-sale created incredible ill will as fans grew increasingly frustrated with their inability to complete transactions without error messages. The tickets reportedly all got sold but, because of the number of times the system crashed, many are wondering if anything got lost or duplicated along the way and if an accurate audit trail exists.
The Live Nation ticketing system failure may not have been as bad as the rumors made it out to be – but even a minor glitch would have been enough to make agents and managers very nervous about how it might impact their clients.
Live Nation has more high profile ticket launches on the horizon for Jonas Brothers and U2, along with their shed season inventory. Yet, less than a week after the Phish crash, word floated around that Live Nation was asking (or being told to ask) for Ticketmaster’s help on Jimmy Buffett’s ticket sales. By that same evening, a source told the WSJ of the merger talks.
For the two companies it could be a win-win. Live Nation and Ticketmaster could form a massive new company that just might get a better reception from the stock market. Or, if the Department of Justice nixes the merger, Ticketmaster could end up as “just” Live Nation’s ticketing portal. Live Nation can return to TM while saving face, and TM has an important client back. All this while the rest of the industry was busy chattering about the “big merger.”
That’s the simplest scenario. Here are the some of the more complicated ones.
The merger is real. And the carrot is simply access to Ticketmaster’s customer database, which was reportedly a prime reason for the split in the first place. (There was also a rumor that the final straw was when Live Nation insisted TM tack on $20 surcharges and take the heat – a rumor that doesn’t seem so farfetched now that LN has followed a similar model on its own.)
Here’s another: Ticketmaster Entertainment was said to be in talks to purchase 50 percent of AEG Live, but the TM board balked, likely because of the asking price. AEG is not going to be sold for fire sale prices if at all. Then came the Live Nation ticketing snafu and the light of leverage and opportunity illuminated the offices of Mr. Azoff. By threatening to merge with Live Nation, Ticketmaster could make AEG fidgety enough to reconsider the purchase. What if both happened? Could TM wind up with a stake in both companies? If so, anyone want to guess who’d call the shots?
Now here’s the rub: If Live Nation and Ticketmaster merge, how can any other promoter feel secure using TM as a neutral ticket seller? With Live Nation and Ticketmaster as one, Live Nation could have access to competitors’ ticket counts. If that doesn’t frighten every other promoter, what would?
There are certainly several other theories. The whole thing could just be smoke and no deal ever emerges. The Department of Justice may grow teeth and nix a deal, although the sinking economy could divert the Obama administration’s attention.
But any way you look at it, things will never be the same as they ever was.
No one could say it better
that makes no sense to me.
for those who haven't had a chance to witness first hand yet...
also the fillmore website lies. on sundays the box office tickets are still free of service charge.
What's that about Silent Hill...?
And so it begins
Live Nation and Ticketmaster reportedly met last night, Feb. 8, with a merger to be announced as early as today.
The board meetings, held right after the Grammys, would announce the attempt to form Live Nation Entertainment, according to the Wall Street Journal. Initial reports had the name as Live Nation Ticketmaster. All but final negotiations were completed Feb. 8, with an announcement due as early as today or tomorrow, the WSJ reported.
Live Nation CEO Michael Rapino would retain his title in the new company, and Ticketmaster CEO Irving Azoff would be named executive chairman, retaining his control of Front Line Management, the paper said. Barry Diller, who runs Ticketmaster’s former parent company and is TM’s chairman, will be named nonexecutive chairman.
Sources told the WSJ the merger is expected to pass regulation with ease because the two companies are not competitors. Industry foes, however, fear the merger would exert undue influence – a venue, for instance, would feel pressure to renew its Ticketmaster contract lest it find Front Line artists or Live Nation tours diverting concerts from the facility.
One expert told the WSJ regulators could oppose the merger because of its “vertical” integration model, although that has not been the case of late. President Barack Obama’s new administration, though, may oppose the deal considering the public’s animosity toward both companies, the paper noted.
There you have it
Live Nation and Ticketmaster reportedly ironed out their differences Monday and agreed to merge.
A source told USA Today the two companies agreed to become one that is valued at $2.5 billion. The merger would pass savings on to the consumer, who would have the ability to handpick seats at concerts.
Live Nation Entertainment would save the companies $40 million annually by eliminated duplication, according to USA Today.
Live Nation would reportedly offer 1.384 shares of stock for each TM share. Each company would have seven representatives on the 14-member board.
The merger still faces approval by the U.S. Department of Justice.
Maybe with the new merge the company will agree to block the ip of a certain Supre...
Just go back to using TM's tickets and systems ASAP!
LIVE NATION AND TICKETMASTER ENTERTAINMENT TO COMBINE IN MERGER OF
EQUALS TO CREATE WORLD'S PREMIER LIVE ENTERTAINMENT COMPANY
Combination Will Drive Greater Access, Transparency and Choice in Ticketing to Serve Fans,
Artists and Entire Live Entertainment Industry
Will Improve Live Event Attendance, Supporting Venues and a Healthier Industry
LOS ANGELES and WEST HOLLYWOOD, February 10, 2009 – Live Nation (NYSE: LYV) and
Ticketmaster Entertainment ("Ticketmaster") (NASDAQ: TKTM) today announced that they have
entered into a definitive merger agreement to create the world's premier live entertainment
company. The combined entity, which will be called Live Nation Entertainment, joins Live
Nation's concert promotions expertise with Ticketmaster's world-class ticketing solutions and
artist relationships to improve the live entertainment experience and drive major innovations in
ticketing technology, marketing and service. Live Nation Entertainment will have the tools to
expand access, improve transparency and deliver artists and fans more choice – driving greater
attendance at live events and bringing more value to all major constituents in the industry.
The companies will be combined in a tax-free, all-stock merger of equals with a combined
enterprise value of approximately $2.5 billion. 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. The new
company anticipates generating approximately $40 million of operating synergies through the
combination of their ticketing, marketing, data centers and back-office functions. The merger
agreement was approved by both companies' boards of directors.
Barry Diller, Chairman of Ticketmaster Entertainment, said, "It was less than two months ago
that Ticketmaster ended its 10-year partnership with Live Nation, and I'm extremely glad we
could reunite with this combination. No different from any other industry, the challenges are all
around every aspect of live entertainment. Being able to put Live Nation and Ticketmaster into
an equal partnership will allow the companies to get through this difficult period and be able to
expand live entertainment options to audiences throughout the world."
Michael Rapino, CEO of Live Nation, said, "This combination will drive measurable benefits to
consumers and accelerate the execution of our strategy to build a better artist-to-fan direct
distribution platform. As every industry observer knows, too many tickets go unsold and too
many fans are frustrated with their ticket-buying experiences. The current inefficiencies in the
system result in higher costs and confusion over access to seats. Together, we will work to
simplify the ticketing process and ultimately increase attendance at live events. This is also a
logical step in the evolution of our business model, creating a more diversified company with a
stronger financial profile that will drive improved shareholder value over the long term."
Irving Azoff, CEO of Ticketmaster Entertainment, said, "This merger, and the resources of these
combined companies, will create a new dynamic and unique creative platform of choice for fans
across all levels of the live entertainment experience. There is nothing more magical than the
bond and the intimate relationship of fans to artists. It is truly an experience that needs to be
embraced and nurtured with both integrity and respect. One of the mandates of the combined
company will be to develop that bond to unsurpassed levels. Additionally, the Live Nation and
Ticketmaster relationship will allow the live entertainment community and their respective
venues to reach fans on unparalleled platforms. I look forward to working closely with Michael
Rapino and the Live Nation team during this exciting and industry changing time."
By integrating these two businesses, Live Nation Entertainment can work to:
Improve Access and Transparency
By uniting an artist, promoter and ticketing company under a combined banner, the new entity
will be positioned to address the challenges of serving fans better at the point of the initial ticket
sale with more options and better access.
Improve Ticket Pricing Options
The merger will enable more innovative and dynamic promotion arrangements that create more
choice and a more fan-friendly purchasing experience. As an example, the Eagles' recent all-
inclusive pricing initiative was favorably received by the public as well as the broader industry.
Invest in Better Ticketing Technology
The combination will enable increased R&D investment and the sort of technology advances
that improve the ticketing experience for consumers and deliver best-in-class solutions to artists,
other content owners and venues. Live Nation Entertainment will be better positioned to deliver
technological advances such as paperless ticketing as well as interactive seat access and
Increase Event Attendance
A very substantial portion of the tickets put on sale to the public for live events goes unsold.
The new company will be positioned to take full advantage of its combined online resources,
databases and promotional operations to strengthen and enhance the direct connection
between artists and fans. This will create opportunities to improve attendance at events,
benefiting venues and supporting a healthier live entertainment industry.
The combined company will be led by Barry Diller as Chairman of the Board, Michael Rapino as
CEO and President of Live Nation Entertainment and Irving Azoff as Executive Chairman of Live
Nation Entertainment and CEO of Front Line. Live Nation Entertainment's board will consist of
14 directors, seven from each company. The companies will continue to operate independently
until the transaction is completed and will work together to determine where the combined
company's headquarters location will be as well as to determine additional management
appointments prior to closing.
The transaction is subject to approval by both companies' shareholders, consent of
Ticketmaster bank lenders and the satisfaction of customary closing conditions and regulatory
review and approvals. The companies expect the transaction to be completed by the second
half of 2009.
Goldman, Sachs & Co. acted as financial advisor and Latham & Watkins LLP acted as legal
counsel to Live Nation. Deutsche Bank provided advisory services and delivered a fairness
opinion to the Board of Live Nation. J.P. Morgan acted as financial advisor and Wachtell Lipton
Rosen & Katz and Gibson Dunn & Crutcher LLP acted as legal advisors to Ticketmaster. Allen
& Company delivered a fairness opinion to Ticketmaster.
For more information about this transaction, please visit www.premierliveentertainment.com.
For your health
yup, we'll see right through those service charges. oops, sorry, convenience charges.
"it's so convenient that you can buy tickets to see this show rather than standing outside the venue hoping to hear some music that we will charge you $26 for such amazing convenience."
WASHINGTON – The Justice Department will investigate the proposed merger of ticketing giant Ticketmaster Entertainment Inc. with Live Nation Inc. to see if the combined company would create an unfair monopoly in the ticket-selling business.
Federal antitrust lawyers are "committed to vigorous enforcement of the merger antitrust laws and will conduct a thorough investigation of the proposed Ticketmaster/Live Nation transaction," said Justice Department spokeswoman Gina Talamona.
The deal would match the world's dominant ticket seller, Ticketmaster, with Live Nation, which was once it's biggest client and is the world's No. 1 concert promoter.
A Justice Department investigation could take months or longer, and the department has probed Ticketmaster in the past.
Some lawmakers are already urging the government to reject the deal.
Sen. Charles Schumer, D-N.Y., and Rep. Bill Pascrell, D-N.J., want the government to stop the deal in part because of problems experienced with Ticketmaster's recent offering of tickets to Bruce Springsteen shows.
The Boss has also weighed in, opposing the deal.
"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," Springsteen said on his Web site.
Live Nation owns 140-plus venues and has multiyear comprehensive rights deals covering the tours of Madonna, Jay-Z, U2, Nickelback and Shakira.
Live Nation last year ended a long-term contract to sell its concert tickets through Ticketmaster, and it launched its own ticketing service for its venues in January. That threatened to siphon off at least 15 percent of Ticketmaster's revenue and had set the two companies up for a head-to-head fight to win ticketing contracts.
A merger would quell that fight — which could raise the ire of regulators, antitrust experts said.
Because both companies are large — with market capitalizations of around $400 million — they are required to submit a notice to the Federal Trade Commission and Justice Department for review of antitrust issues.
In 1994, Pearl Jam complained to the government that Ticketmaster refused to agree to low concert ticket prices and fees, and that the grunge band couldn't organize a tour without Ticketmaster's cooperation. The case was dismissed a year later. Attorney General Janet Reno said then that new enterprises were entering the ticketing business.
Today, Ticketmaster is still the world's main force in ticketing.
It sold 141 million tickets in 2007. Aside from concerts, theater shows and family events, it has deals with the NFL, NBA and NHL and the Premier League of U.K. football. It sells tickets for more than 80 percent of the major arenas and stadiums in the U.S., according to concert tracking firm Pollstar.
Although ticket resale sites have gained in popularity, such as eBay Inc.'s StubHub or RazorGator.com, they rely for their supply on ticket brokers or consumers who bought tickets mainly from Ticketmaster first and are reselling them at a profit.
~~~COACHELLA 2007- 2011~~~
Originally Posted by humanoid
Coachella is much better enjoyed with a sense of absolute freedom...
The plot thickens. Business as usual for now though.
How the hell can the government "reject" a merger? Isn't our market supposed to be free?
Ron Paul 2012!
Death Cab for Cutie/Magik Magik Orchestra
some other bands
Orrin Hatch ftw.