Word: concert
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Dates: during 2000-2009
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...missing the point of the merger: that it would produce greater efficiencies in the music business, which theoretically would benefit ticket buyers and artists. The proposed megamarriage of Ticketmaster and Live Nation, if approved by regulators, would combine the country's largest ticketing company with the nation's biggest concert promoter. Since the $2.5 billion all-stock deal was unveiled in February, a throng of players, ranging from angry independent concert promoters to frustrated music fans, has been drumming the Department of Justice to block the deal, claiming the merger will create a conglomerate that will shut out competition...
...merger will combine Ticketmaster's ticketing and artist-management business with Live Nation's concert promotion, network of concert halls and fan-club operations under one roof. As a combined company, the new entity is expected to enjoy about $40 million in annual cost savings and have greater bargaining power to woo artists and sell out concert halls more efficiently. "Forty percent of the tickets to music events go unsold," said Azoff, whose Front Line artist-management group within Ticketmaster represents such artists as the Eagles and Guns N' Roses. "The goal of this [combined] company is to better market...
...What's there to like about this merger? The combined company will effectively cut out middlemen, such as independent concert promoters, business managers, lawyers, agents and venue owners who want a piece of the pie, and allow artists to deliver services "quicker, faster, better and cheaper" to its fans, said Luke Froeb, associate professor at Vanderbilt University's Owen Graduate School of Management and a former senior economist with the FTC and Justice Department. From a stock perspective, Citigroup analyst Mark Mahaney sees significantly bigger growth than Ticketmaster would enjoy...
...company's expansion into all parts of the live-music industry, from managing artists to selling beer and hot dogs at venues. Rivals worry that the merged company's far-reaching and powerful tentacles will favor the company's own acts, venues and promotion company and shut out competing concert halls, managers and promoters. "They'll be the concert promoter, the ticketing company, the merchandise company, the agent, the manager - they'll be everything," said Jerry Mickelson, co-owner of concert promoter Jam Productions. "It would be one-stop shopping. What's an act need...
...apologized and blamed computer glitches for the ticketing mishap. But industry heavyweights snickered. "That stuff has gone on all the time. When he said it was a computer glitch - ha-ha - I nearly fell off my chair," said Randy Phillips, CEO of AEG Live, the country's second largest concert promoter. "I could not believe it. I mean, these are sophisticated businessmen - my God, a computer glitch?" Not surprisingly, Phillips opposes the merger and has even suggested he may cancel his seven-year contract with Ticketmaster if the deal goes through...