Feds Tear Into Ticketmaster Merger

Where critics see conflict of interest, Azoff spies opportunity

(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?" More»

Firm will be run by Live Nation's CEO

(NEWSER) - Live Nation and Ticketmaster made public their merger plans today, though the combined concert-promotions and ticketing powerhouse is sure to face scrutiny by antitrust regulators, the Wall Street Journal reports.The new company is to be named Live Nation Entertainment; it's estimated the two will save $40 million by combining operations. More»

Wireless giant ends $39B bid to buy T-Mobile

(AP) - AT&T Inc. said today that it is ending its $39 billion bid to buy T-Mobile USA after facing fierce government objections. The cell phone giant said that the actions of the US government to block the deal do not change the challenges of the wireless phone industry, which it says requires more airwaves, known as spectrum, to expand. The deal would have solved that problem for a time, and without it, "customers will be harmed and needed investment will be stifled," AT&T said in a statement. More»

Urges FCC, Justice Department to block it on anti-trust grounds

(NEWSER) - AT&T’s purchase of T-Mobile must be blocked on antitrust grounds, Sen. Herb Kohl declared today. The chair of the Senate subcommittee on Antitrust, Competition Policy, and Consumer Rights released a letter urging the FCC and Justice Department to step in before the two phone companies get hitched, the Wall Street Journal reports. The merger, he warned, “would likely cause substantial harm to competition and consumers, would be contrary to antitrust laws and not in the public interest.” The Senate is powerless, however, to interfere directly in the transaction. More»

(NEWSER) - The music industry continues to reshape itself: Ticketmaster and Live Nation may announce a merger next week, the Wall Street Journal reports. The new company, called Live Nation Ticketmaster, would have ties to hundreds of top artists and expertise on everything from promoting shows—Live Nation is the world's largest concert promoter—to selling the tickets. Neither board has approved the move yet, and it would likely face anti-trust scrutiny by the feds. More»