Live Nation Entertainment is an American global entertainment company, formed from the merger of Live Nation and Ticketmaster in 2010.
It owns, leases, operates, has booking rights for and/or equity interests in a large number of U.S. entertainment venues.
Video Live Nation Entertainment
History
Merger
The merger initially received regulatory approval in Norway and Turkey in 2009. In October 2009, the United Kingdom's Competition Commission provisionally ruled against the merger. On December 22, 2009, the Competition Commission reversed its decision and cleared the proposed merger. The United States Justice Department approved the merger on January 25, 2010, with some conditions to which both parties agreed.
As part of the agreement with governments to merge, Ticketmaster had to sell its ownership in its self-ticketing company, Paciolan, and Live Nation Entertainment was placed under a 10-year court order prohibiting it from retaliating against venues that choose to accept competitors' ticket-selling contracts, and it "must allow venues that sign deals elsewhere to take consumer ticketing data with them".
In addition, the new company had to license a copy of its ticketing software to two companies--Anschutz Entertainment Group (AEG) and either Comcast Spectacor or another "suitable" company--so that both companies could compete "head-to-head" with Ticketmaster for venues' business. AEG was given the option after five years to buy the software, replacing it with something else, or partnering with another ticketing company.
Opposition
The merger that formed the company was opposed by members of the United States Congress, business rivals, and the Computer & Communications Industry Association (CCIA), whose members include Google, Oracle, Microsoft, Yahoo, Intuit, and eBay.
2018 Allegations of Antitrust Violations and DOJ Investigation
In 2018, the United States Department of Justice launched an investigation following complains that Live Nation had engaged in anti-competitive practices following the merger. AEG has alleged that Live Nation had pressured them into using Ticketmaster as a vender. If AEG had refused, they would have lost out on business. The allegations of antitrust violations have resulted in a re-examination of the merger between Ticketmaster and Live Nation. Much of the initial criticisms of the merger has been re-affirmed.
Maps Live Nation Entertainment
Company
Leadership
The leadership team at Live Nation Entertainment consists of the following people as of 2017:
- Greg Maffei (CEO of Liberty Media) as Chairman
- Michael Rapino (previously CEO of Live Nation) as President & CEO
Acquisitions and investments
In December 2014, Live Nation Entertainment acquired Austin-based live entertainment and artist management company C3 Presents.
In October 2016, Live Nation Entertainment bought AC Entertainment, a Knoxville Tennessee music company.
In February 2017, Live Nation Entertainment acquired a majority interest in Israeli promoter Blue Stone Entertainment.
References
External links
- Official website
Source of article : Wikipedia
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