BERLIN, Germany (CelebrityAccess) — Germany's competition regulator Bundeskartellamt has blocked a proposed acquisition of concert and event agency Four Artists by German entertainment and ticketing company CTS Eventim.
Four Artists represents approximately 300 artists, including Die Fantastischen Vier, Clueso, Marteria, David Guetta, Rea Garvey and Andreas Bourani. CTS announced plans to acquire the booking agency and promoter in March.
According to the Bundeskartellamt's assessment, the acquisition of Four Artists would strengthen CTS's dominant position in regards to other event organisers and advance booking offices in the primary and secondary market for ticketing services and thus significantly impede effective competition on the markets affected.
With Four Artists, CTS Eventim would integrate an important event organizer into its company, tying additional ticket quotas of around 500,000 – 1 million tickets to its ticketing system. This would weaken the possibilities of competing ticketing system providers to expand.
"As the operator of the largest ticketing system in Germany, CTS Eventim holds a dominant position in the market. Concert and tour organisers as well as advance booking offices are dependent on it," said Andreas Mundt, President of Bundeskartellamt.
"The company also has a very powerful market position in the sale of tickets via its own online shop and has already integrated several event organisers into its company's structure in the past. By acquiring Four Artists, CTS Eventim would gain control of additional relevant ticket quotas and expand its market position further," Mundt added.
According to the Bundeskartellamt, CTS Eventim's ticketing operation currently handles 60-70% of all event ticketing in Germany.