In what would be the closet modern day example of an apocalypse for concerts goers, Live Nation and Ticketmaster are reportedly close to a merger. According to The Wall Street Journal, the two industry heavy-weights are nearing a deal that would combine the world’s biggest concert promoter (Live Nation) with the world’s dominant ticketing and artist-management (Ticketmaster), creating a music conglomerate of epic proportions, known as Live Nation Ticketmaster.
The boards of both companies have yet to approve any merger, these people said, and sticking points remain. One potential hitch: Because the merger would concentrate so much power in the music industry under one company it would require review by antitrust authorities. Nonetheless, the deal, which would not entail an exchange of cash, could be announced as early as next week.
As the report goes on to point out, the creation of Live Nation Ticketmaster would bring relationships with over 200 artists, including Madonna, Jay-Z, The Eagles, and Christina Aguilera under one giant roof. One would also have to think the merger will also affect the already astronomical service fees that greet us upon check out at the respective ticketing outlets. After all, where’d the competition be coming from?
Needless to say, this probably wasn’t the news you wanted to be waking up to.