Live Nation and Ticketmaster merge

February 10, 2009 – 11:16 am – No Comment

Live Nation and TicketMaster have announced a merger here are some highlights from the press release (from Reuters):

* Live nation and Ticketmaster Entertainment to combine in merger of equals to

create world’s premier Live entertainment company

* Says enterprise value of approximately $2.5 billion

* Says it and Live Nation shareholders will each own approximately 50

percent of the combined company

* Says shareholders will receive 1.384 shares of Live Nation common stock for

each share of Ticketmaster

* Says combined company will be led by Barry Diller as chairman of the board

* Says Live Nation entertainment’s board will consist of 14 directors, seven

from each company

* Says combined co led by Michael Rapino as CEO and president

After all the consumer complaints (as well as performer complaints) about Ticketmaster, I’m sure this will also have its fair share of problems. Besides, what’s to stop Ticketmaster from charging even more outrageous fees now?

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