Oh No! Ticketing Merger Announced

Last week we talked about the proposed Ticketmaster-Live Nation merger. Now the companies have officially announced that they will combine to dominate the ticket market and screw people over. The new company will be called Live Nation, so at least we’ll get to complain about a new name instead of Ticketmaster.

The merger still may not come off because of possible anti-trust violation – the new company would hold a virtual monopoly on concert and sports ticket sales in the country. Senator Charles Schumer of New York has already called for such an investigation. The company is trying to spin such power as beneficial for consumers, claiming that it would give them the ability to negotiate with artists for lower prices, which they would pass on to consumers.

Because the artists are really the problem with ticket prices right now, not the ticketing companies. Hopefully the government does bring anti-trust legislation to save us all. Why does this make me feel like both the artists and the fans are about to get screwed?

What do you think of the merger? Are you scared that ticket prices will jump?

Source: New York Times