Britain's Competition Commission rules against Ticketmaster/Live Nation merger

The ticketing group Ticketmaster Entertainment and the world's largest concert promoter Live Nation, that announced earlier about their merger, faced Britain's competition regulator opposition.

 Britain's Competition Commission has provisionally ruled against the planned merger, motivating it could result in higher prices and less competition. Merger plan has also raised antitrust concerns on both sides of the Atlantic and is also being examined by the US Department of Justice.

 Britain's Competition Commission said in the Thursday statement this union could damage the market for the sale of live music tickets and hurt an existing partner of Live Nation's, CTS Eventim. The regulator stated it would propose compensation, such as the divestment of the British business of either Ticketmaster or Live Nation, or measures ensuring a smaller player can survive.

 In turn, Ticketmaster responded it was committed to the merger and stressed that live music was now the driving force behind the music industry after piracy and changing business models damaged the recording business. 

 The Commission will consider responses to this proposal before publishing its final report, due on November 24.