Yesterday, the U.S. Department of Justice turned every concert-goer’s nightmare into a reality. The department approved the proposal of LiveNation and Ticketmaster merging into one supercompany. The two ticket sales/promotion companies are expected to physically merge immediately, and the monolithic company will now be known as Live Nation Entertainment, Inc.
The new ticketing monopoly promises that “through this merger, the parties believe that the combined company will have the tools to develop new products, expand access, improve transparency and deliver artists and fans more choice.” We’ll have to see it to believe it, but forgive us for being skeptical.
According to Pitchfork, the DoJ’s Antitrust Division and 17 state Attorneys General have already filed a civil antitrust lawsuit to block the move, but the Attorneys General have also filed a settlement that would “resolve any competitive concerns.” It’s unfortunate that Live Nation Entertainment is practically twisting arms in order to make sure that no one challenges them.
