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Submitted: October 3, 2011 - 8:38am
Last updated: October 3, 2011 - 8:45am
Last updated: October 3, 2011 - 8:45am
Source:
Reuters
Authors:
Agnes Crane Rob Cox
Location:
Department of Justice, 950 Pennsylvania Avenue, NW, Washington, DC, 20530-0001, United States
Blocking mergers is the bluntest tool in an antitrust watchdog’s armory. That is what the Justice Department is trying with AT&T’s ambition to acquire T-Mobile USA. But as the case of Live Nation Entertainment shows, aborting deals is not always necessary to foster competition; extracting concessions can work instead.
A 2010 deal united Live Nation, the leading concert promoter in the United States, with Ticketmaster, the largest ticket seller. The creation of such a vertically integrated beast scared consumer groups. Even rock ’n’ roll tough guys like Pearl Jam and Bruce Springsteen sang foul. But a funny thing happened on the way to Live Nation’s predicted market domination. It never actually materialized.
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