LONDON (CelebrityAccess MediaWire) — Live Nation Entertainment can breath a little easier after the U.K. Competition Commission announced that it was unconditionally reaffirming its initial decision approving the merger of Live Nation and Ticketmaster.
The Commission had originally cleared the two companies to merge in December 2009, but was subsequently instructed by the U.K. Competition Appeal Tribunal to reconsider its decision following an appeal filed by CTS Eventim. Upon further investigation, the Commission once again concluded that the merger would not result in a substantial lessening of competition in the U.K. market.
CTS had filed a complaint after the Commission initially approved of the corporate marriage, stating that Live Nation hadn't been living up to its contractual obligations and that the Competition Commission hadn't properly weighed CTS Eventim's opinions on the merger.
"We applaud this decision by the U.K. Competition Commission and are pleased to have the matter resolved," said Michael Rapino, President and Chief Executive Officer of Live Nation Entertainment. "Our focus is on the future and continuing to execute on our goals of driving innovation across the live event experience and strengthening the artist-to-fan connection." – CelebrityAccess Staff Writers