In an interview that aired today, February 4, on Fox Business, TicketNetwork CEO and founder Don Vaccaro told host Alexis Glick that consumers could lose out if Ticketmaster Entertainment and Live Nation were to merge. See the video below.
The two industry heavyweights are in the midst of merger talks, and if the deal is allowed to close it would virtually control all aspects of the concert industry. Prior to news breaking about the proposed merger, U.S. Rep. Bill Pascrell of New Jersey called on the Federal Trade Commission and the anti-trust arm of the Department of Justice to investigate the relationship between Ticketmaster and its subsidiary TicketsNow, a secondary ticket company.
“Over the last month, we’ve seen Live Nation and Ticketmaster compete in the ticketing market, and we’ve seen Ticketmaster actually sell some tickets without any service fees on them. We don’t think that that practice would continue if the companies merged, so ultimately we think that it would be bad for consumers,” Vaccaro said.