Justice Dept. Clears Ticketmaster Deal

Justice Dept. Clears Ticketmaster Deal


Ending a yearlong investigation, the Justice Department on Monday announced its conditions for accepting a proposed merger between Ticketmaster Entertainment and Live Nation, a deal that could significantly remake the live entertainment business by combining touring, management and ticketing into one company.

The decision, widely seen as a litmus test for the Obama administration’s attitude toward antitrust regulation, was greeted with cautious optimism by consumer groups who feared that the combination of the two music giants would stifle competition and lead to higher ticket prices.

Under the Justice Department’s conditions, Ticketmaster must divest itself of one of its ticketing divisions and also license its software to a competitor. In addition, for 10 years the combined company will be subject to what the Justice Department called “tough antiretaliation provisions” to prevent abuse of its power over concert tours, artist management, ticketing and theaters.

“After a rigorous investigation, we concluded that the transaction, as originally proposed, was anticompetitive,” Christine A. Varney, assistant attorney general in charge of the Justice Department’s antitrust division, said in a news conference. “We were prepared to litigate this case, and I told the parties that. The required divestitures and behavioral prohibitions alleviate our concerns.”

http://www.nytimes.com/2010/01/26/business/26ticket.html

It already costs $200 to see the same bands I saw for $12 in the 80's. How much worse will it get, now that TicketBastard is also the promoter.

Down at the Astoria the scene was changing,
Bingo and rock were pushing out X-rating,
We were the first band to vomit in the bar,
And find the distance to the stage too far,
Meanwhile it's getting late at ten o'clock,
Rock is dead they say,
Long live rock.

Long live rock, I need it every night,
Long live rock, come on and join the line,
Long live rock, be it dead or alive.

People walk in sideways pretending that they're leaving,
We put on our makeup and work out all the lead-ins,
Jack is in the alley selling tickets made in Hong Kong,
Promoter's in the pay box wondering where the band's gone,
Back in the pub the governor stops the clock,
Rock is dead, they say,
Long live rock.

Long live rock, I need it every night,
Long live rock, come on and join the line,
Long live rock, be it dead or alive.

Landslide, rocks are falling,
Falling down 'round our very heads,
We tried but you were yawning,
Look again, rock is dead, rock is dead, rock is dead.

The place is really jumping to the Hiwatt amps,
'Til a 20-inch cymbal fell and cut the lamps,
In the blackout they dance right into the aisle,
And as the doors fly open even the promoter smiles,
Someone takes his pants off and the rafters knock,
Rock is dead, they say,
Long live rock, long live rock, long live rock.

Long live rock, long live rock, long live rock,
Long live rock, long live rock, long live rock.

Long live rock, I need it every night,
Long live rock, come on and join the line,
Long live rock, be it dead or alive.