Live Nation and Ticketmaster close to merging
Imagine if Ali and Foreman had dropped their gloves and shaken hands halfway through the third round. You'd ask for your money back, wouldn't you?
Granted-- watching two promotional giants engage in an insatiable land grab, absorbing media companies and wooing talent, isn't quite the spectacle that the Rumble in the Jungle was. But there is some disappointment in the fact that the bout between Ticketmaster and challengers Live Nation has been called off before guts got spilled.
It hasn't been an entirely bloodless battle-- Live Nation's stock prices have plummeted to $5.00 per share since it sought to take down Goliath with its trusty sling, while Ticketmaster has been in a market freefall, hurtling from $27.00 per share to an anemic $3.33.
But rather than being an enthralling slugfest, where one pugilist seems poised to drop with the next blow, the struggle for supremacy threatens to drown both parties in blood, and Live Nation and Ticketmaster, lamentably, seem to be doing the responsible thing in reaching an amiable cease fire (one which, as the collective bank of talent reaches over 200 bands and artists, is certain to drive service charges through the roof for you, the consumer).
Terms of the merger? Well, Live Nation (who, despite some pretty glaring failures, has come out with fewer cracked teeth) gets to have top billing, as the new company would be retitled Live Nation Ticketmaster. Still unclear? Who's acquiring who.
In any case, the truth will be known, and that right quick-- it's an all stock merger, which means the deal is nearing completion. Keep watching the skies-- the next shadow to blot out the waning winter sun may just be a new promotional behemoth lumbering after you and your walet.