Even though everyone I know is broke, people are still shelling out ridiculous ticket prices to see big-name concerts. Looking at a $50 nose-bleed seat makes me glad I am still an underground rock geek who rarely pays more than $7 for a show.
U.S. Senator Charles Schumer slammed the deal ahead of its formal announcement on Tuesday, calling for a federal probe into Ticketmaster, the top U.S. ticket vendor.
“This merger would give a giant, new entity unrivaled power over concert-goers and the prices they pay to see their favorite artists and bands,” the Democrat senator from New York said in a statement.
The combined company will be called Live Nation Entertainment, and sell more than 150 million concert tickets a year, promote 22,000 concerts annually, and own more than 140 venues globally. It will also handle more than 200 big name artists including Madonna, Jay-Z, Miley Cyrus and the Eagles.
Somewhere in the universe Pear Jam singer Eddie Vedder is fuming.
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