It’s looking like Live Nation may acquire ticketing giant, TicketMaster for… $2.5 billion dollars (*puts pinky to mouth*). Who says there’s a recession?
If this deal goes down, this will be a merger of the largest online ticketing specializer (TicketMaster) with the largest concert promotions company (Live Nation). Live Nation is already a scary entity in itself, controlling a plethora of major concert halls and venues across the country. To top it off, if this deal goes down, the genius that is Irving Azoff will be in charge of not only the largest management firm for talent but also a top exec at the combined giant that looks to become Live Nation Entertainment.
Whatever happens, it will be interesting to see how all this plays out. If this happens, major labels might have a tough time signing acts, as Live Nation Entertainment will have a bargaining chip that no other management company or record label could ever offer… venues!
For a better run down on what this means, check out the NYTimes article here.