NEW YORK (CelebrityAccess MediaWire) — AEG President/CEO Tim Leiweke pulled no punches on the subject of the Live Nation/Ticketmaster merger during a keynote Q&A session at this year's Billboard Music & Money Symposium in New York.
Leiweke told the audience that the merger "troubles us" and "not good for the industry" Billboard reported. Leiweke went on to state "I find it ironic that some think this merger will fix the business" and result in lower ticket prices."
Leiweke did not appear to be sanguine on the chances of the merger clearing its current spate of regulatory hurdles "I trust [the Justice Department] to do the right thing." he said.
Leiweke also stuck to his guns on the AEG's lack of interest in pursuing 360 deals. "We view ourselves as partners to the labels, not their competitor," he said.
As for the future, Leiweke outlined AEG's strategy of helping to develop new talent, stating that this goal was vital to the future of the concert industry, Billboard reported. – CelebrityAccess Staff Writers