Lawmakers want Ticketmaster/Live Nation probe

[LeighAnn]

Source: Reuters

WASHINGTON (Reuters) - The proposed merger of ticketing giant Ticketmaster and Live Nation, the world's largest concert promoter, should be closely scrutinized by the Justice Department, according to the chair of a Senate antitrust subcommittee and 50 members of the U.S. House of Representatives on Monday.

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The deal has been criticized by superstar Bruce Springsteen, politicians like Senator Charles Schumer, and legions of music fans commenting in Internet chatrooms.

Fifty members of the U.S. House of Representatives signed a letter written by Rep. Bill Pascrell which also expressed concern about the deal.

"We see little to commend this transaction," said the letter, which cited "competitive harm in the ticketing and other industry markets" because of the deal.

"Consumers, business managers, artists, independent promoters, and music fans in every state are likely to suffer if the merger is allowed to occur. We urge you to give this transaction the closest possible scrutiny and provide citizens the antitrust protection they deserve," said the letter, which was also addressed to Varney.


Read more: http://www.reuters.com/article/industryNews/idUSTRE56Q4OQ20090727

[LuckyLib]

1. I want a Ticketmaster probe, period. Biggest ripoff artists of all time.

[madrchsod]

5. no shit....there`s no competition in ticket sales in the usa.

[salguine]

2. You know what would be the most typical thing that could happen here?

A Ticketmaster executive will be put in charge of the investigation.

[Raster]

3. And then be given a Medal of Honor for a job well done.

[Devil_Fish]

4. don't they have any thing better to do? NT

[madrchsod]

6. they control most of the ticket sales in the usa-

sports,music,threatre,ect. the live nation controls all the major concerts in the usa. whatever anti-trust laws we have left have to be used to reject the merger.