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Ticketmaster Mogul Says He Can Save Music

Where critics see conflict of interest, Azoff spies opportunity

By Ambreen Ali, Newser User

Posted Feb 21, 2009 10:51 AM CST

(Newser) – Irving Azoff may not be a household name, but he is, in fact, "the most powerful man in the music industry," writes Ethan Smith in a Wall Street Journal profile. The head of Ticketmaster—he made his name managing the Eagles in the '70s—is now trying to pull off his most brazen act yet: merging his company with concert promoter Live Nation. He insists it will save the industry, but also wonders, "Are we crazy to be trying this?"

The deal is about to undergo serious anti-trust scrutiny by the feds and Congress. It would put artists, agents, and concert promoters under one umbrella, raising conflict-of-interest questions—agents want the best price for their artists, while promoters push for the opposite. Bruce Springsteen, among others, hates the idea. But Azoff says it will bring prices down for fans by making the industry more efficient. Investors are skeptical: Shares in both companies have plunged more than 30% since the deal was floated.

[Images (4)]

[Videos (1)]

Irving Azoff, left, and Neil Portnow, CEO of the Recording Academy, arrive at the 2009 MusiCares Person of the Year Tribute in Los Angeles. (Getty Images)

Springsteen has been a vocal critic of Azoff's merger idea. (AP Photo/Stuart Ramson, file)

Azoff's idea carries with it rock-star heavyweights he isn't afraid to use as bargaining tools. Here, The Eagles perform. (AP Photo/Jeff Adkins)

Christina Aguilera is among the long list of rock stars in Azoff's stable. (AP Photo/Matt Sayles)

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The value of the combined businesses will be $2.5 billion. (AssociatedPress)

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Ticketmaster Mogul Says He Can Save Music