Ticketmaster, Live Nation CEOs to testify Tuesday before Senate antitrust subcommittee

By Cristal Cody

Tupelo, Miss., Feb. 23 - The chief executive officers of Ticketmaster Entertainment, Inc. and Live Nation, Inc. are scheduled to testify Tuesday before the Senate Judiciary Committee's antitrust subcommittee on the companies' merger, according to the official Senate witness list.

Irving Azoff, CEO of Ticketmaster Entertainment, and Michael Rapino, president and CEO of Live Nation, will testify at "The Ticketmaster/Live Nation Merger: What Does it Mean for Consumers and the Future of the Concert Business?" hearing before the Subcommittee on Antitrust, Competition Policy and Consumer Rights.

Also scheduled to testify are Jerry Mickelson, chairman and executive vice president of concert and special events producer JAM Productions Ltd. in Chicago, and David A. Balto, senior fellow at the Center for American Progress think tank in Washington, D.C.

The merger announced earlier this month has been met with criticism from lawmakers and artists concerned about the concentration of power in the music industry.

The Department of Justice said it plans to conduct a thorough investigation of the deal.

Beverly Hills, Calif.-based Live Nation is the largest producer of live concerts in the world, and West Hollywood, Calif.-based Ticketmaster is the leading entertainment ticketing and marketing company.

In the all-stock merger, Ticketmaster shareholders will receive 1.384 shares of Live Nation stock for each share of Ticketmaster.

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