Feds OK Live Nation/Ticketmaster with strings

“Federal regulators gave the OK for Live Nation to merge with Ticketmaster—with compromises to create more competition in the ticket retail market.”

“Lawmakers and artists were worried that the deal, which unites the nation’s largest concert promoter and largest ticketing service, would mean higher ticket prices for consumers. Those fears were compounded by the fact that Live Nation had planned to enter the ticket market and become a direct competitor to Ticketmaster prior to their merger agreement.”

“To do the deal, the Department of Justice required Ticketmaster to license its ticketing software to rival concert promoter Anschutz Entertainment Group and to sell Paciolan, the ticketing subsidiary it bought just two years ago. Comcast has already signed a letter of intent to buy Paciolan.”

“According to Jim Rill (DC), who headed up the Justice Department’s antitrust division under President Clinton, the ruling is ‘consistent with the a strong and rational enforcement policy.’

“‘It shows that the DOJ did a substantial job and got a significant settlement,’ Rill said. ‘They are creating one, and possibly two, new competitors in the market while at the same time letting the merger’s synergies be realized.’”