Millions of music fans face higher concert prices after watchdogs yesterday cleared a £500million merger between booking agency Ticketmaster and promoter Live Nation, as we predicted back in October
The Competition Commission's decision comes two months after it warned the mega-deal would harm customers. The U-turn caps an embarrassing 48 hours for the quango after BAA won an appeal against an order to sell three of its airports.
In October, the Commission warned a marriage between Ticketmaster and Live Nation "could lead to higher prices and lower service quality". But, making its final decision, it said it had a change of heart following "significant new evidence and arguments". Ticketmaster and Live Nation - who have promoted concerts by Madonna (left), Coldplay and U2 - announced the planned merger in February.
The Commission's inquiry focused on concerns that the deal would stop the world's second largest ticketing firm, CTS Eventim, from gaining a foothold in the UK market. In truth, it was powerless to block the deal as both businesses are based in the US. But it could have forced bosses to split or sell UK arms - or make them sell tickets through rival companies.
Coldplay at Mencap's Big Noise Sessions, Exeter Castle, Exeter, UK (19 December 2009):
More photos are available to view here [thanks sar74]
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