Ticketmaster and Live Nation Move Closer To A Merger
News out of Tuesday’s Wall Street Journal has live entertainment giants Ticketmaster and Live Nation closer to a merger than before. Both entertainment companies have grown within the live entertainment industry over the past two years and have worked together closely during that time. Reports now have the two combining their efforts.
The Journal, citing people familiar with the matter, said the boards of the two companies had not yet approved the deal, which would create a company called Live Nation Ticketmaster.
Live Nation is the world's largest concert promotion and venue manager. They own and operate thousands of concert and festival venues all over the world and promote, almost exclusively, events they are working on at those venues. Live Nation has recently stretched out into the artist management field. Signing big name artists like Jay-Z and Nickelback to the new Live Nation Artists firm. This means that they will now manage the artists, promote and plan the tours, own the venues they tour in and release their albums.
Ticketmaster is the largest ticket printing company in the world. Any promoter can go through Ticketmaster to print and sell tickets through the companies website and pay a per ticket fee. Live Nation has been a major user of this service and had been in talks to merge the two giants.
Live Nation spokesman John Vlautin said the company does not comment on "rumors and speculation."
Rumors and reports are swirling and the waters unclear as to what a merger might mean for the industry. It is moving more and more towards a monopoly and those never work out well for the young and emerging.