SOURCE: TicketNetwork

TicketNetwork

January 25, 2010 18:55 ET

TicketNetwork Comments on Department of Justice Decision on Ticketmaster Merger

VERNON, CT--(Marketwire - January 25, 2010) - TicketNetwork is disappointed with the Department of Justice (DOJ) decision to allow Ticketmaster to merge with Live Nation. Although the Department required Ticketmaster to divest Paciolan to Comcast-Spectacor and allow Anschutz Entertainment Group (AEG) to utilize the Ticketmaster Host Platform, the merger is still likely to harm competition in both the primary and secondary ticketing sectors. "Consumers will wind up paying even higher fees for tickets, and artists, venues and sports teams will continue to suffer under this paper tiger settlement," said Don Vaccaro, CEO of TicketNetwork. "The fact that Ticketmaster will retain its current contracts until their expiration guarantees that real competition in the primary market will not happen for at least 5 years -- if ever."

"We hope the Department of Justice will keep its promise to America's millions of ticketing consumers and maintain a high level of scrutiny on Ticketmaster. The DOJ's pledge to monitor the market and move quickly if Ticketmaster engages in anticompetitive practices is a welcome oversight; however, we fear they will have to intervene sooner rather than later under this proposed settlement," said Vaccaro. "Consumers, Members of Congress and industry participants asked the Department of Justice for a remedy -- unfortunately, this agreement means consumers and the live entertainment industry will have to wait."

About TicketNetwork

TicketNetwork is the leading-edge technology provider in the secondary ticketing industry. We provide the best and most efficient solutions for ticket buyers and ticket sellers. Ticket buyers can purchase event tickets to a wide range of concert, sporting, and theatre events through our vast network of Web sites. Ticket sellers can easily upload and manage their inventory on our online Exchange using our premium suite of software products. With one of the largest ticket inventory exchanges, powered by the most robust software in the industry, TicketNetwork provides the ideal solution for both ticket buyers and sellers in the secondary ticketing industry.

Contact Information

  • Contact:
    Viveca Woods at 646-418-6934 or
    Dan Pullium at 860-519-8235 or
    Molly Martinez at 860-870-3400 x132