The hearings into the proposed merger between ticketing, promotions, sales and mostly-everything-music giants
Live Nation and
Ticketmaster began Tuesday in Washington D.C.
Both companies used the city of Chicago as a prime example of a "typical market." This could be a good or bad thing for merger plans and antitrust officials, as others argued that the two already control the majority of venues and ticket sales in that region.
Today arguments started anew at 9 a.m. Central Time. As James Love wrote this morning for The Huffington Post: Why was the merger even proposed, given its obvious harmful effects? Well, this is Washington, DC, and Ticketmaster and Live Nation think enough money spread around will overcome the bad smell.
The Huffington Post full article:
>> CLICK HERE TO READ HP STORY
(!!) Live blogging: Read excellent as-it-happens coverage from The Chicago Sun-Times and writer Jim DeRogatis's blog:
>> CLICK HERE TO FOLLOW THE SUN-TIMES BLOG
What our lawmakers are doing (from DeRogatis' blog): 9:34 a.m.: Once again, congressional hearings simply don't get any stranger than this one.
In considering the power of music, Chairman Johnson recalls that when he was back in college, he "was feeling pretty low one day, and he decided to go to a concert" -- by George Clinton and "the Funkadelics." Tickets were between $5 and $10, he says, and the concert "was a wonderful experience that definitely took my mind off my troubles."
This prompts Pascrell to begin quoting the lyrics to Springsteen's song "The Promised Land," trying to inspire fans to seize the day and object to the merger.
"Folks need to know that we do have control over what is happening," Pascrell says. "The average guy out there is getting stuck every day, and particularly when it comes to some entertainment, I think we need to take a real good look at this merger."
Holy cats. Our national lawmakers in action. I'm serious: This is SO worth following! ...
(!!) Live testimony: Read the PIRG (the federation of state Public Interest Research Groups) blog and links to more testimony. The PIRG testifies today in front of the Senate. (You should be able to watch the hearing and download all testimony after 10 a.m.)
>> CLICK HERE TO FOLLOW LIVE TESTIMONY
