LinkedIn, the social site for business professionals which attracts professionals and job seekers with 100 million worldwide members, is hoping to cash in with a public debut valuing the company at more than $3 billion.
Lots of medium-sized developments at Live Nation Entertainment today.
Firstly, the world’s largest concert promoter and leading ticketing company has taken full control of Front Line Management after spending $116.2 milion to buy the remaining stake it did not already own.
So Comcast ‘won’ the Worst Company In America award from readers of The Consumerist blog, which as its tagline suggests, is the place where “shoppers bite back”. Yet we have to ask, is Comcast really the worst company in America or is it all relative?
So how’s the market for sports and concert tickets holding up, given the economic turmoil that has dominated the public imagination since last year? Better than you’d think, according to Mike Janes, the founder and CEO of FanSnap, a live-event ticket search engine that launched in March.
The proposed merger between Ticketmaster, the world’s largest ticketing firm, and Live Nation, the world’s largest concert promoter, met with huge uproar when it was announced back in February and is still being examined by federal regulators.
Deal-making in the U.S. media and entertainment sectors is going to be down this year, says a new PricewaterhouseCoopers survey (request a copy here). Now, that’s not a new or startling conclusion given the state of the economy, but it’s just another piece of evidence that when consumers and advertisers get thrifty, deal makers can end up become benchwarmers as companies struggle with cost cuts and other exigencies.
Live Nation and Ticketmaster might have plenty of people out there who are not pleased with the idea of the two companies coming together but they have received support from several superstars in the run-up to a U.S. anti-trust hearing in Washington DC on Tuesday.
Will it survive? That’s the main question looming over today’s official news that Live Nation will indeed buy Tickemaster Entertainment, a deal that has been much in the news this week.
We won’t be tempted by puns. Or any sort of lame wordplay. We’ll play this straight. Seriously. Here goes: After all the bad publicity caused by a photo of Michael Phelps apparently taking a bong hit, Kellogg has decided to dump the superswimmer.