Live Nation and Ticketmaster Merge
The worlds biggest promoter Live Nation is going ahead with plans to buy Ticketmaster, the largest ticketing outlet worldwide for an estimated $400 million (USD) (that's about $800 million NZD)
The combined company will be called Live Nation Entertainment, and sell more than 150 million concert tickets a year, promote 22,000 concerts annually, and own more than 140 venues globally. It will also handle more than 200 big name artists including Madonna, Jay-Z, Miley Cyrus and the Eagles.
After the announcement both companies shares dropped after U.S. Senator Charles Schumer slammed the deal ahead of its formal announcement on Tuesday, calling for a federal probe into Ticketmaster, the top U.S. ticket vendor.
"This merger would give a giant, new entity unrivaled power over concert-goers and the prices they pay to see their favorite artists and bands," the Democrat senator from New York said in a statement
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