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Ticket vendors, Ticketmaster and Live Nation have finally announced their merger, one that values around $2.5 billion. The merger would now be called Live Nation Entertainment and would alter the way how tickets are sold for music events. it would offer enthusiasts to bid for tickets in the Live Nation Entertainment market; breaking away from the traditional methods of selling them. In a press release, CEO Live Nation, Michael Rapino stated:

This combination will drive measurable benefits to consumers and accelerate the execution of our strategy to build a better artist-to-fan direct distribution platform. As every industry observer knows, too many tickets go unsold and too many fans are frustrated with their ticket-buying experiences. The current inefficiencies in the system result in higher costs and confusion over access to seats. Together, we will work to simplify the ticketing process and ultimately increase attendance at live events. This is also a logical step in the evolution of our business model, creating a more diversified company with a stronger financial profile that will drive improved shareholder value over the long term.

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