Internet Ticket Sellers Launch Funds To Fight Merger
By Anna Johnson on February 23rd, 2009The proposed $2.5 billion merger between TicketMaster and Live Nation has U.S. ticket sellers, venue owners and promoters alike worried about the potentially anti-competitive impact on the ticket sales industry.
So much so that ShowClix is pouring $5 million into a Fair Ticketing Fund to entice venues and promoters away from doing business with the merged company, and TicketBiscuit is putting $10 million into a similar fund.
TicketMaster has traditionally locked venues into exclusive arrangements, with service fees offered as an enticement. Competitors such as ShowClix and TicketBiscuit will seek to use their funds to compensate venues for the income lost as a result of leaving TicketMaster.
