Wed Dec 23, 2009 at 12:00:00 PM EST
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Reversing an earlier ruling, the United Kingdom's Competition Committee yesterday cleared the way for Ticketmaster and Live Nation to merge:The British commission originally ruled against the merger because it would prevent another company, CTS Eventim, from entering the British market. Since that October announcement, however, the commission said the partners provided evidence showing CTS Eventim would not be harmed. Congressman Pascrell wasn't pleased with the ruling and questioned whether they really had the power:"The commission clearly states that the deal it sanctioned today allows Ticketmaster to remove a major competitor in the ticket services market in the United States, but that finding is not within the scope of their authority," said Pascrell. "While in the United Kingdom they only control about 50 percent of the market, the two companies combined control between 70 to 80 percent of the market here." The merger still needs the approval of the Justice Department and Canadian officials. |
| Jason Springer :: Live Nation/Ticketmaster merger approved by UK agency, but Pascrell says they don't have the power |
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