In theory, the Broadway musical Spider-Man: Turn Off the Dark had a lot going for it, including a popular Marvel superhero and songs by U2 stars Bono and the Edge. But one thing the critically savaged show doesn't have going for it is a monetary investment from Bono.
Slumping concert attendance and ticket sales pushed Live Nation Entertainment, a concert promoter that also owns Ticketmaster, into a fourth-quarter loss from a slight profit a year ago. The quarterly loss also exceeds the company's combined losses from the first nine months of 2010.
After approving the merger of concert-promotion behemoth Live Nation and ticketing/artist-management titan Ticketmaster, the Justice Department ordered the partnership to divest a few assets. But will the conditions placate critics?
Live Nation and Ticketmaster Entertainment reportedly received approval to merge, paving the way for a titanic entertainment company handling ticketing, artist management and live music, with exclusive booking deals with over 125 venues.
