Live Nation

Live Nation is a California-based live event and concert promoter; in fact, it is the largest concert promoter in the United States. On February 10, 2009, Live Nation announced plans to buy Ticketmaster Entertainment, Inc., for approximately $400 million. The acquisition, which has been criticized by rocker Bruce Springsteen among others, may be blocked by U.S. antitrust laws.Reuters: Live Nation to buy Ticketmaster (February 10, 2009)

On February 10, 2009, Live Nation announced plans to acquire Ticketmaster, in effect combining the biggest concert promoter in the United States with the biggest ticket seller. The deal, if accepted by the government, will involve giving Ticketmaster shareholders 1.384 shares of Live Nation for each share of Ticketmaster.CNNMoney: Ticketmaster, Live Nation join forces (February 10, 2009)

The new company is reportedly to be called Live Nation Entertainment, and will have a value of about $2.5 billion, excluding current debt loads.CNNMoney: Ticketmaster, Live Nation join forces (February 10, 2009)

"Being able to put Live Nation and Ticketmaster into an equal partnership will allow the companies to get through this difficult period and be able to expand live entertainment options to audiences throughout the world."—Barry Diller, chairman of TicketmasterCNNMoney: Ticketmaster, Live Nation join forces (February 10, 2009)

"This merger would give a giant, new entity unrivaled power over concertgoers and the prices they pay to see their favorite artists and bands. It must be viewed skeptically and scrutinized with a fine-toothed comb by the Justice Department and the Federal Trade Commission."—Senator Charles SchumerNew York Times: Live Nation and Ticketmaster Agree to Merge (February 10, 2009)

"The one thing that would make the current ticket situation even worse for the fan than it is now would be Ticketmaster and Live Nation coming up with a single system, thereby returning us to a near monopoly situation in music ticketing."—Bruce SpringsteenNew York Times: Springsteen: This Merger Isn’t Born to Run (February 5, 2009)