Slumping concert attendance and ticket sales pushed Live Nation Entertainment, a concert promoter that also owns Ticketmaster, into a fourth-quarter loss that exceeds its combined losses from the first three quarters.
Fredric Rosen, who led Ticketmaster for 15 years, is poised to go head-to-head against his old company as CEO of Outbox Enterprises, a company that flips Ticketmaster's centralized middleman model of ticket sales on its head.
In the wake of the merger between concert-promotion behemoth Live Nation and ticketing/artist-management titan Ticketmaster, approved on Monday by the Justice Department, U.S. antitrust officials ordered the partnership to divest a few assets. But will the conditions placate critics?
Live Nation and Ticketmaster Entertainment on Monday reportedly received approval for their merger from the Justice Department. The move paves the way for Live Nation Ticketmaster, a titanic entertainment company that would handle ticketing, artist management, and live music, with managing interests in about 350 artists and exclusive booking and promotional deals with more than 125 U.S. venues.