PHILADELPHIA (CelebrityAccess MediaWire) — Live Nation and Ticketmaster may have found an ally in their ongoing battle to get regulatory approval from the Justice Department for their proposed merger approved — cable giant Comcast.
According to Bloomberg, Philadelphia-based Comcast may be in line to acquire spinoffs from the two entertainment giants as they consider paring themselves down in order to allay regulatory concerns about the monopolistic potential of the post-merger company.
In addition to its cable and Internet offerings, Comcast also controls New Era Tickets and venue management firm Global Spectrum. Sources close to the negotiations told Bloomberg that Comcast has been meeting with Justice Department officials about the proposal.
While spinning off some subsidiary interests to Comcast may clear the way for the Live Nation – Ticketmaster merger to complete, it may throw up some stones in Comcasts' pathway as the cable giant is in seperate negotiations with General Electric to create a company that would acquire NBC Universal. The Comcast/GE deal has drawn criticism from some consumer advocacy groups who argue that the deal would give Comcast too much control over a wide range of content. – CelebrityAccess Staff Writers