The online ticket resale business–what most people would call legalized scalping–seems like a pretty decent market. But Ticketmaster may be getting out of it in order to mollify regulators, and an analyst predicts Ebay may do the same to please Wall Street.
Remember the great Ticketmaster/Bruce Springsteen controversy of 2009? The one where fans of the Boss said they got screwed by the ticketing company everyone loves to hate? The one that prompted Springsteen himself to complain about Ticketmaster and its proposed acquisition of concert giant Live Nation? It’s over!
No one likes Live Nation, and everyone hates Ticketmaster. So this is going to be one tough merger to sell. But Barry Diller and crew are going to try anyway. Here’s a look at their talking points–and the ones their many critics have already been voicing.
The Ticketmaster-Live Nation deal isn’t official yet, but it’s already garnering plenty of opponents. The real question: Who’s going to come out in favor of a deal that helps one of the country’s most disliked companies?
In addition to myriad rock star perks you’ve already heard about, here’s another one to add to the list: Better stock deals. At least when you’re talking about stock in concert promoter Live Nation. Since Live Nation shares have gotten pummeled, you’d think those music acts would be hurting, too. Nope.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider. Read more »
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
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