subject: Ovannnis Capital – Ticket Giants Set To Merge [print this page] Author: Simon Dockrell Author: Simon Dockrell
Ovannis Capitals London analysts have reported that the proposed merger between two of the largest ticket resellers for live events is getting the green light after a regulatory body in the UK dropped their objections to the merger and approved the deal. The UKs competition commission had previously voiced their concerns about the proposed merger in October. The merger would result in the worlds largest concert promoter, the commission feared that fans would be forced to pay more to see their favorite artists with no competition on tickets sales. The initial ruling in October by the UKs competition commission had hit the share prices of both TicketMaster and Live Nation Ovannis Capitals analysts noted how shares in both companies rose on the proposed merger by 5% after the British regulatory body dropped its objections and approved the deal. They have noted that there are still some concerns held by the U.S. Department of Justice who have said that there are some serious issues that the merged companies will have too much control over ticket prices. Ovannis Capitals London analyst believes that the new entity doesnt have the need to change ticket pricing policy and that its remaining rivals would not be hurt by this merger. Insiders at Live Nation told Ovannis Capital that they expect the deal to be closed in the first quarter of 2010. Live Nation announced their plans to buy TicketMaster Entertainment for $400 million in stock in February earlier this year. It gathered immediate criticism from Artists, fans and politicians. The reversal by the UK commission leaves Live Nation optimistic that the deal will be closed.About the Author:
Simon Dockrell
The Capital Press board was formed in 1992, when it began to operate the Capital Press weekly publications. The board meets three times a week with the Capital Press publisher and other managers to keep abreast of progress with the various media products.
