U.K. Competition Commission Reaffirms Unconditional Clearance of Live Nation-Ticketmaster Merger
Poster: SySAdmin
Posted on May 7, 2010 at 8:07:01 AM
U.K. Competition Commission Reaffirms Unconditional Clearance of Live Nation-Ticketmaster Merger
LOS ANGELES, May 7 -- Live Nation Entertainment, Inc. (NYSE:LYV) today announced that the U.K. Competition Commission has unconditionally reaffirmed its initial decision approving the merger of Live Nation and Ticketmaster. The Commission originally cleared the merger in December 2009 but was subsequently instructed by the U.K. Competition Appeal Tribunal to reconsider its decision following an appeal filed by CTS Eventim. Upon further investigation, the Commission once again concluded that the merger would not result in a substantial lessening of competition in the U.K. market.
(Logo: http://www.newscom.com/cgi-bin/prnh/20081203/LAW048LOGO-b)
"We applaud this decision by the U.K. Competition Commission and are pleased to have the matter resolved," said Michael Rapino, President and Chief Executive Officer of Live Nation Entertainment. "Our focus is on the future and continuing to execute on our goals of driving innovation across the live event experience and strengthening the artist-to-fan connection."
About Live Nation Entertainment:
Live Nation Entertainment (NYSE-LYV) is the largest live entertainment company in the world, consisting of five businesses: concert promotion and venue operations, sponsorship, ticketing solutions, e-commerce and artist management. Live Nation seeks to innovate and enhance the live entertainment experience for artists and fans: before, during and after the show. In 2009, Live Nation sold 140 million tickets, promoted 21,000 concerts, partnered with 850 sponsors and averaged 25 million unique monthly users of its e-commerce sites. For additional information, visit http://www.livenation.com/investors.
Photo: http://www.newscom.com/cgi-bin/prnh/20081203/LAW048LOGO-b
http://photoarchive.ap.org/
photodesk@prnewswire.com
Source: Live Nation
CONTACT: Linda Bandov of Live Nation, +1-310-867-7000,
lindabandov@livenation.com
Web Site: http://www.livenation.com/
LOS ANGELES, May 7 -- Live Nation Entertainment, Inc. (NYSE:LYV) today announced that the U.K. Competition Commission has unconditionally reaffirmed its initial decision approving the merger of Live Nation and Ticketmaster. The Commission originally cleared the merger in December 2009 but was subsequently instructed by the U.K. Competition Appeal Tribunal to reconsider its decision following an appeal filed by CTS Eventim. Upon further investigation, the Commission once again concluded that the merger would not result in a substantial lessening of competition in the U.K. market.
(Logo: http://www.newscom.com/cgi-bin/prnh/20081203/LAW048LOGO-b)
"We applaud this decision by the U.K. Competition Commission and are pleased to have the matter resolved," said Michael Rapino, President and Chief Executive Officer of Live Nation Entertainment. "Our focus is on the future and continuing to execute on our goals of driving innovation across the live event experience and strengthening the artist-to-fan connection."
About Live Nation Entertainment:
Live Nation Entertainment (NYSE-LYV) is the largest live entertainment company in the world, consisting of five businesses: concert promotion and venue operations, sponsorship, ticketing solutions, e-commerce and artist management. Live Nation seeks to innovate and enhance the live entertainment experience for artists and fans: before, during and after the show. In 2009, Live Nation sold 140 million tickets, promoted 21,000 concerts, partnered with 850 sponsors and averaged 25 million unique monthly users of its e-commerce sites. For additional information, visit http://www.livenation.com/investors.
Photo: http://www.newscom.com/cgi-bin/prnh/20081203/LAW048LOGO-b
http://photoarchive.ap.org/
photodesk@prnewswire.com
Source: Live Nation
CONTACT: Linda Bandov of Live Nation, +1-310-867-7000,
lindabandov@livenation.com
Web Site: http://www.livenation.com/