Proposed Merger
On February 10, 2009, Live Nation and Ticketmaster Entertainment announced that they have entered into a definitive merger agreement to create a combined entity, to be called Live Nation Entertainment. Ticketmaster's press release said Live Nation produces live concerts in 57 countries.
The proposal has received regulatory approval in Norway and Turkey.
In October 2009, the United Kingdom's Competition Commission provisionally ruled against the merger with Ticketmaster. On December 22, 2009, the Competition Commission decided to clear the proposed merger.
Separate regulatory reviews of the proposal continued in the United States and Canada. The United States Department of Justice approved the merger in 2010 subject to review by a federal judge after a 60-day comment period. A conditions of the approval, Ticketmaster agreed to license its software to rival Anschutz Entertainment Group, and to sell its subsidiary Paciolan to Comcast Spectacor, Comcast's sporting events subsidiary. The company also agreed not to interfere with competition for the ten year life of the agreement.
Read more about this topic: Live Nation (events Promoter)
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