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Business Briefing / Entertainment

Lawmakers decry Ticketmaster plan

July 28, 2009|Times Wire Reports

A growing chorus of lawmakers is warning that the proposed merger of ticketing firm Ticketmaster Entertainment Inc. and concert promoter Live Nation Inc. raises serious competition concerns.

In a letter to Assistant Atty. Gen. Christine Varney, Sen. Herb Kohl (D-Wis.) called on the Justice Department to approve the deal only if it wouldn't harm competition and lead to higher prices. In a separate letter to Varney, 50 House members said the Justice Department should view the merger "with great skepticism" because the combined company "would enjoy a virtual stranglehold over the live entertainment industry."

Beverly Hills-based Live Nation had no comment; West Hollywood-based Ticketmaster did not respond to a request for comment.

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