UPDATE (2:35 p.m.): It's official.
Live Nation Entertainment is the name of the now-announced merger of monster companies
Ticketmaster and
Live Nation. The group is already defending itself, saying the merger will not result in higher ticket prices. ...
From the Associated Press, quoting a statement from Sen. Charles Schumer, D-N.Y., who called the Springsteed ticketing debacle a "bait-and-switch" scam: "It is very hard to trust Ticketmaster," said the senator, a member of the Judiciary Committee. "This merger would give a giant, new entity unrivaled power over concertgoers and the prices they pay to see their favorite artists and bands."
>> CLICK HERE TO READ FULL ASSOCIATED PRESS STORY AT TULSAWORLD.COM
And ... Jim DeRogatis, thank you. I haven't read a more succinct explanation of events regarding the implications of the pending Ticketmaster/Live Nation merger.
From the established and well-respected Chicago Sun-Times music journalist and blogger: Already reviled by many music fans, the two monolithic companies most responsible for skyrocketing ticket prices over the last two decades are expected to announce a merger today that will make them the dominant force on the concert scene.
[...]
DeRogatis continues to report from industry source Billboard: "The merger would create the most powerful and influential entity the music business has ever known," according to the industry trade Billboard. "As manager, ticketer, venue operator, merchandiser and more, this giant would tap into revenues, if not outright control them, from virtually every source in the chain: live performance, merchandising, ticketing, content, sponsorships, licensing and digital."
Can you say monopoly? It smells like one to me. (As if ticket prices and fees aren't already high enough!)
His blog is powerfully written. And absolutely right on the money.
Please read this blog.
>> CLICK HERE TO READ FULL BLOG AT CHICAGO SUN-TIMES
