This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Live Business
Ticketmaster chief says AEG will leave if Live Nation deal is done
By CMU Editorial | Published on Friday 27 February 2009
Ticketmaster chief Irving Azoff recently told a Senate hearing on his company’s proposed merger with Live Nation that he expected some other major US promoters to look for other ticketing providers if and when the merger goes ahead.
He made the admission in a bid to fight arguments the merger would give Live Nation/Ticketmaster too much dominance in the ticketing market, leading to a rise in prices.
He argues that because Ticketmaster is likely to lose some of its clients as a result of the merger, the deal will, in fact, be an opportunity for their rivals, and motivate them to be even more competitive.
Anyway, in another hearing Azoff has confirmed that one of the promoters likely to drop Ticketmaster’s services if they merge with Live Nation is their new business partner’s biggest rivals, AEG Live.
Azoff: “AEG has notified us by letter that they believe they have the right to terminate our agreement in connection with this merger. Others will most certainly leave if this merger is consummated. If that’s not competition, I don’t know what is”.
AEG have not commented on Azoff’s remarks.
