88-47-09

88-47-09 - News Release 47/09 8 October 2009 CC RULES...

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News Release 47/09 8 October 2009 CC RULES AGAINST TICKETMASTER/LIVE NATION MERGER The Competition Commission (CC) has provisionally ruled that the proposed merger of Ticketmaster Entertainment, Inc and Live Nation, Inc will limit the development of competition in the market for live music ticket retailing. In its provisional findings published today, the CC has concluded that the merger could severely inhibit the entry of a major new competitor (CTS Eventim) into the UK ticketing market. Prior to the announcement of the merger, Live Nation had signed an agreement with CTS to provide ticketing services for its live music events and venues in the UK. The CC believes that this agreement with Live Nation would have provided CTS with a foothold in the UK market from which it would have grown, increasing significantly the degree of compe- tition in a market which is currently dominated by Ticketmaster and one other large ticketing agent. The CC believes that, if the merger were to proceed, Live Nation would have the incentive to impede CTS’s entry into the UK ticketing market, in particular by minimizing the supply of its tickets to CTS, and thereby frustrate CTS from becoming an additional effective competitor to Ticketmaster. This could lead to higher net prices (eg due to lower rebates to promoters and venues) and/or lower service quality and/or less innovation in the market than would otherwise be the case. Both companies operate in the live music and entertainment industry in the UK. Ticketmaster
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88-47-09 - News Release 47/09 8 October 2009 CC RULES...

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