WASHINGTON D.C. (CelebrityAccess MediaWire) — Jack Orbin of Stone City Attractions filed a complaint with the U.S. Department of Justice (DOJ), blasted the Live Nation/Ticketmaster merger, claiming that he believes the deal will prove severly damaging to the live entertainment industry.
According to TicketNews, the testimony written by attorney David Balto on behalf of Mr. Orbin, asserted that the LNTM merer will lead to increased prices and decreased competition in the live entertainment sector.The testimony was provided as a part of the public comment period on the consent decree that mapped out the agreement between the Justice Department, Live Nation and Ticketmaster that allowed he two companies to merge. While the two companies have been operating as a merged entity, the deal hasn't officially been finalized by court approval.
"The promoter principally sets ticket prices and costs have not increased relative to the ticket price increases. This is substantially a result of Live Nation overpaying for Artists to ensure that other promoters do not have a chance to compete with those Artists. Live Nation has 'reinvented' itself numerous times to try to compensate for their disastrous financials. None of these reincarnations have been profitable, leading to this desperate act," Balto and Orbin wrote in the testimony.
Stone City Attractions is one of the largest indie promoters in the Southwest.
Jam Production's Jerry Michelson also filed consent decree comments but was unavailable for comment, TicketNews said. Justice Department officials also declined to discuss the matter, noting that they were unable to comment on pending matters, TicketNews said. – CelebrityAccess Staff Writers
