A decision to merge ticketing giant Ticketmaster and touring company Live Nation could be less than a day away.
The New York Post is reporting that merger is in the making right now.Writer Peter Lauria reports that a board meeting will be held immediately after the Grammy Awards later today. That is an extraordinary time for such a meeting to take place, right at the peak of the music industries most elaborate party period following the crown jewels of music award shows.
The Post says that the merger will be a 50/50 deal although Ticketmaster shareholders will receive more shares as they have more shareholders.
Once the merger takes place, it is expected that soon after Live Nation CEO Michael Rapino will be dumped. A power struggle is almost certain for control. Ticketmaster Entertainment CEO Irving Azoff is expected to take control of the combined operation although in the initial stages, Azoff and Rapino will operate as co-CEOs, a formula primed for a showdown.
The merger of Ticketmaster Entertainment and Live Nation will be the most powerful operation in the music industry and Irving Azoff will be the most powerful man in the industry worldwide.
Irving Azoff recently merged his Front Line Management Group with Ticketmaster and in doing so took control of the ticketing giant.
Front Line controls the business of the Eagles, Guns n’ Roses, Christina Aguilera, Van Halen, Steely Dan and Morrissey, just to name a few.
Azoff began his career in the early 70s managing Joe Walsh and Dan Fogelberg. He then joined David Geffen and Elliot Roberts and began working with the Eagles.
He dabbled in movies. Irving Azoff co-produced Fast Time At Ridgemont High. Around that time, he started his own label, Giant after running MCA Records from 1983-1989.
So we sit back and await the next exciting chapter in this story. In a week kicking off with the Grammy Awards, there is going to be a lot of business news within the music industry.
