(COLUMBUS, Ohio) — Ohio Attorney General Richard Cordray today joined the U.S. Department of Justice (DOJ) and 16 other state attorneys general in a settlement with Ticketmaster Entertainment Inc. and Live Nation Inc., requiring the companies to make major concessions in order to close a proposed merger announced early last year. 

In a complaint also filed today in the United States District Court for the District of Columbia, DOJ and the states allege that the pending merger, if closed without concessions, would violate antitrust laws because it would eliminate head-to-head competition between the two largest ticket servicing companies in the United States.  The merger also would create an entertainment powerhouse that would dominate the industry through multiple business segments including ticket sales, concert promotion, artist management and venue ownership.

“Inspiring and maintaining a competitive and innovative market always benefits consumers,” said Attorney General Cordray. “The settlement we reached today preserves competition in the entertainment industry, and will allow smaller companies the opportunity to compete while putting pressure on the larger companies to do their jobs well.”

Today’s settlement proposes that a court order be granted, requiring the new company to:

• Provide Anschutz Entertainment Group (AEG) with intellectual property, technology, training and support to enable AEG to compete against the new company. AEG is currently second to Live Nation in the concert promotions industry and also owns a number of major venues in the United States;
• Sell Paciolan Inc., which also does business as Ticketmaster Irvine, to Comcast-Spectacor (Comcast). Paciolan is a stand-alone ticketing services business that has the strength and reputation to compete against the merged firm. Comcast currently uses Paciolan’s technology through licensing agreements  and also owns and operates a number of major venues in the United States;
• Subject itself to several “anti-retaliation” provisions, which will help preserve competition by protecting promoters and venues that may want to leave the new company and contract with the competition.

The settlement will help to preserve better prices/terms, quality, service, and innovation in the industry.

To read the complaint and final judgment, visit www.OhioAttorneyGeneral.gov/TicketmasterLiveNation.
 

Media Contacts:

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Holly Hollingsworth: (614) 644-0508
cell: (614) 353-7576