Ticketmaster’s Expansion
In 2010, Ticketmaster and the world’s largest concert operator, Live Nation merged to become the biggest monopoly in the live entertainment industry. Live Nation had owned over 140 amphitheaters and sold over 140 million tickets a year at the time. This merger all came with one catch from the U.S. Justice Department. They approved this deal but required Ticketmaster to license its ticket software to one of its competitors and could not cut off venues if they went with another ticketing service. In result, shares for Live Nation rose 15% and closed at $10.51 on the NYSE. Ticketmaster had also rose 16% and closed around $15.40. The combined two stocks would be worth $835 million. Ticketmaster had a very large lead in the industry, however, the Justice Department was on their back. In the next 10 years, Ticketmaster would be investigated for their unlawful and unfair business practices in order to become even more valuable.
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