LOS ANGELES - In a tacit acknowledgment of a delay in their plan to combine, Live Nation Inc. and Ticketmaster Entertainment Inc. said in filings Friday that a shareholders meeting to approve the deal is set for Jan. 8.
The companies had previously said they expected to complete the deal by the end of the year. Regulatory authorities have been closely scrutinizing the plan, however, potentially delaying it.
Last month, the U.K. Competition Commission came out against the deal, saying the combination could inhibit the entry of a major new competitor, CTS Eventim, in the U.K. ticketing market.
The British regulators had initially said they would wait until Nov. 24 to determine what actions to take, but on Thursday extended the deadline for a final report to Jan. 19.
The U.S. Department of Justice has not yet given its opinion on the plan, which would bring together the world's largest concert promoter with its most dominant ticket-seller by volume.
Liar’s Poker author Michael Lewis has a great review in The New Republic of Alice Schroeder’s biography of Warren Buffett, The Snowball: Warren Buffett and the Business of Life. Lewis says as much about Buffett as he does about the book in his analysis. Hat tip to Paul Kedrosky for pointing to the review. Also worth a read: Canadian [...]
I had a conversation earlier today in Montreal with Jeffrey Immelt, the chairman and CEO of General Electric Co. (GE), who was pretty blunt in his assessment of the so-called Buy American provision in President Barack Obama’s stimulus bill. “I think it’s terrible,” Immelt said, before speaking at the International Economic Forum of the Americas here. [...]
This week I spoke to Tom Bradley, president of Steadyhand Investment Funds Inc., a Vancouver-based, mutual-fund group launched in April, 2007. He wanted to fill me in on what his funds were all about (I had inadvertently overlooked them in an article I did on low-fee funds awhile back). Normally, I tend to avoid actively managed [...]
The results of Cone’s 2009 Consumer New Media Study include two points that I found to be remarkable: “Forty-four percent of American new media users are searching for, sharing or discussing information about corporate responsibility (CR) efforts and programs…” “Sixty-two percent of users polled believe they can influence business decisions by voicing opinions via new media channels. ” While the [...]
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