Report: Comcast involved in Ticketmaster, Live Nation deal
Bloomberg reported today that Comcast is working with Ticketmaster and Live Nation on overcoming antitrust issues for their proposed merger.
In return for helping the two companies pass the Justice Department’s scrutiny, Comcast could get spin-offs of ticketing software and client contracts. The Justice Department is looking at whether the Ticketmaster/Live Nation deal would stifle competition, according to Bloomberg’s unnamed sources.
Comcast has some of its own assets to sell tickets for, including the Philadelphia 76ers, Philadelphia Flyers and the Wachovia Center. Comcast’s interest in being a part of the deal is another indication, along with the proposed joint venture with General Electric in NBC Universal, of the cable operator wanting to expand beyond its core cable roots.
The merger between Ticketmaster and Live Nation would meld the world’s largest ticketing and artist management company with the biggest concert promoter and venue operator, according to Bloomberg.