Ticketmaster/Live Nation near merger (Wall Street Journal)

walkonby wrote:
the boss man speaks:

follow-up:

(Ticketmaster) promises that they would not present an option to go to TicketsNow from Ticketmaster without the consent of the artist and the venue.

They will also refund the difference between the actual purchase price and the face price of the ticket for those unintentionally purchased their tickets in the resale site. However, they asked that the "good faith gesture" should not be abused.

(source)

U.S. congressman voices concern about Ticketmaster

Rep. Bill Pascrell, D-N.J., asked the Federal Trade Commission and the Department of Justice Antitrust Division on Tuesday to investigate Ticketmaster?s relationship with its subsidiary company, TicketsNow. The probe follows Ticketmaster?s handling of ticket sales for the Springsteen tour. Tickets went on sale Monday for his show at New Jersey?s IZOD center in suburban New York. The tour kicks off in April in San Jose.

In his letter to the FTC chairman, Pascrell stated he sees abuse potential when one company is able to monopolize the market for a product and also directly manipulate and profit from the secondary market.

He also stated that the speed with which tickets were made available on Ticketmaster?s official resale affiliate site raises questions about whether TicketsNow brokers were given preferential treatment instead of competing on a level playing field with average consumers who want to buy tickets.

In a letter to fans, Springsteen stated that Ticketmaster has stopped redirecting ticket-buyers to the TicketsNow site per his tour team?s request.

Springsteen also stated his team does not participate in Ticketmaster charges.

Obama administration may play role if merger isn't a rumor

According to The National Law Journal, companies that merge and create a certain size-threshold or deal-size will be under more scrutiny from the FTC and the DOJ thanks to the new presidential administration.

The new administration?s new goal will be preventing deals that harm consumers and overall create a more competitive marketplace. It also will create much more paperwork that must be reviewed by the government agencies.

The NLJ cites comments Obama made last year at the American Antitrust Institute in which he said he plans to reinvigorate antitrust enforcement and set up a review of merger activity.

(source)

"The change we need" or the same as it ever was where big companies get/do whatever the fuck they want?


Guess we'll find out soon enough…

so, last week a buddy of mine calls me up and asks "you're good at scoring tickets to concerts, can you help me get 2 tickets for the phish show in camden?"  now i haven't seen this friend since he got married last summer, and i've never seen phish and the scene that comes along with the band, so i proposed that we make a group outing of it and that i and the missus join them to the show.  on the friday that tickets went on sale, we loaded up livenation-dot-com, hit refresh at 10:00 AM and… complete and utter system meltdown.  time-outs, database errors, lost orders, garbled pages, "processing your request" timers that didn't move for 5+ minutes, etc.  way worse than anything i've ever experienced on tickets.com, this was an utter implosion.  i eventually got 4 lawn tickets - at 11:44 AM.  how's that for an indictment: thousands of people trying to get tickets, yet it took over 2 hours to sell out a show.  TM would have this taken care of in less than 15 minutes.  if anyone wants a laugh, i suspect that the phish message boards were on fire that day (jan 30). 

this must have been a huge embarrassment for livenation: this was their first big post-TM onsale, and they flunked in the biggest of ways.  EPIC FAIL.  so what's the relationship between this lil' story and this thread?

Analysis: Live Nation / Ticketmaster
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.

that last sentence has to be one of the more awkward endings to an article ever.

back wrote:
  I think the thing people are missing is that this merger isnt really all that bad for everyone. 

You mean the denizens of 930.com aren't the center of the universe and arbiters of the cultural zeitgeist? Pretty radical thinking, there, sonick.

sweetcell wrote:now i haven't seen this friend since he got married last summer,

If I had a dollar for every time I've heard that, I could buy TM and LN…

Ticketmaster, Live Nation merger expected today, Tuesday

and Wired sez: merger = more tickets sold by auction, and higher prices for all?  "In other words, thickness of wallet – and not quickness of response – would become the salient factor when trying to buy tickets for hot shows."

and people try to say that howard stern had nothing to do with sirius and xm taking over a year to merge.  what, we hear about this two days ago and they are already allowed to merge?  looks like obama is no change folks, so move along.  same old people paying others off to get what they want, like what we  are used to.

seriously walkies, you're dragging obama into this?  i think ALL of the articles i've recently linked in this thread had a paragraph about how the new obama rules make this merger less likely. 

the merger all talk for the moment, and announcement does not a merger make.  let's not jump the gun here, m'kay?

sweetcell wrote:
seriously walkies, you're dragging obama into this?  i think ALL of the articles i've recently linked in this thread had a paragraph about how the new obama rules make this merger less likely. 

the merger all talk for the moment, and announcement does not a merger make.  let's not jump the gun here, m'kay?

they were out of peanut m&ms this morning, so i had to settle for plain.  obama.

It's official - announced this morning.
http://www.pollstar.com/blogs/news/archive/2009/02/10/647940.aspx
I still don't see how it gets past the FTC and antitrust laws…hopefully it won't

MyraEllen wrote:
It's official - announced this morning.
http://www.pollstar.com/blogs/news/archive/2009/02/10/647940.aspx
I still don't see how it gets past the FTC and antitrust laws…hopefully it won't

Easy. The Fascist bosses watch out for their Fascist buddies. Rules and laws are only for the rest of us.   >:(

"Barack, dude, are you going to fuck us artists over by letting this merge happen??"

"Ludacris . . . dude, has anybody ever told you your t shirt is stupid?  and guys who wear earrings in both ears are gay."

Oh look...


<gag>

welcome to the new world of who "controls" the artist.

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."


What are the benefits to consumers.  I'm curious.  How do soulless companies that rely on monopoly power benefit consumers?

Mobius wrote:
Michael Rapino, CEO of Live Nation, said, &quot;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.&quot;


What are the benefits to consumers.&nbsp; I&#039;m curious.&nbsp; How do soulless companies that rely on monopoly power benefit consumers?

they give us something to bitch about here, keeping this site alive.  see how it works?

Both stocks are down 17% or so today!

I'm not sure this is what they had in mind….

hutch wrote:
Both stocks are down 17% or so today!

I&#039;m not sure this is what they had in mind….

someone should send in jay z and his crew.  that will settle this mess.  ticketmaster and livenation would be walking dead ticket companies.

walkonby wrote:
someone should send in jay z and his crew.&nbsp; that will settle this mess.&nbsp; ticketmaster and livenation would be walking dead ticket companies.

why?  i don't get it… please explain. 

&quot;One possibility, short of derailing the merger: The government could require that the combined company spin off Live Nation&#039;s fledgling ticketing division, which it developed in anticipation of its contract with Ticketmaster expiring at the end of 2008. With another big ticketing company out there signing up venues, attracting fans and working with promoters, Washington could be satisfied that the live-music market is competitive enough.&quot; (from Live Nation, Ticketmaster Merger Risks Antitrust Scrutiny)

ya want conspiracy theories?  how about this: about a year ago, TM and LN start talking about merging.  in order to make it seem "necessary", LN says it will set up it's own rinky-dink ticketing system and pretend to go it alone.  as the phish fiasco proved, it's crap; and as a link story on the previous page of this thread pointed out, is an ostensible reason for them to get back together.  condition for the merger?  they need to sell off the useless LN ticketing system to create "competition" - a competition that wouldn't be able to sell tickets with any speed.  BRILLIANT.

it's now official: Justice Department to Probe Live Nation/Ticketmaster Merger.  "Neither company is likely to be pleased that the Justice Department, and not the Federal Trade Commission, has chosen to look into this."  good.

and the new company already has a website: http://www.premierliveentertainment.com/