The merger deal struck by Ticketmaster Entertainment and Live Nation suffered a further setback yesterday after UK antitrust authorities poured cold water on their plans to create a live music powerhouse.
In a provisional ruling, the Competition Commission said the tie-up between the US's top ticket seller and the world's largest concert promoter could “severely inhibit” a new rival from competing in the UK ticket retailing market.
The combined group – which would also span artist management and venue ownership globally – could lead to higher prices and poorer service for consumers and stifle innovation, the commission said.
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