Merger Update: Live Nation/Ticketmaster Act Reaches Congress

I have been trying to stay under the radar a bit with the Live Nation – Ticketmaster merger updates to let all the surrounding press simmer down a bit and to let the true stories surface above all the rumor’s. So just one week after the official merger agreement, congress has received the act and has started to take a look.

There will be two different hearings for the case; one by the Senate Subcommittee on the Antitrust aspect of the merger that will take place on February 24th, and one by the House Committee on Courts and Competitive policy that will commence on the 26th of the month.

This merger is getting a ton of attention to no surprise, because after all, who doesn’t enjoy music and concerts? Bill Pascrell, New Jersey representative shares his opinion on the merger and why it is drawing so much press, “The merger, which holds the potential to stifle healthy competition in live music entertainment, has raised the ire of music fans and performers all over the country”. Pascrell’s point of view is right on the ball. Almost all of my peers are furious with this merger, as it’s tough enough to afford to go to shows now. I hope that congress can see the severity of this monopoly and that it would change the face of the industry indefinitely.