Shares in both companies jumped in trading Monday after reports surfaced earlier that the merger would be approved.
Varney said Ticketmaster would have to license its ticketing software to competitor AEG and sell its subsidiary Paciolan to Comcast Spectacor. Paciolan sells tens of millions of tickets every year, she said.
The conditions would result in two large, vertically integrated competitors -- AEG and Comcast Spectacor -- that would vie for ticketing contracts with the merged entity of Live Nation Inc. and Ticketmaster Entertainment Inc.
The merged entity would also be under a 10-year court order prohibiting it from retaliating against venues that choose to sign ticket-selling contracts with competitors.
Varney announced the merger conditions on Monday, saying the deal as proposed would have been “anticompetitive."
“It's going to benefit competition and benefit consumers," she said. “Generally when you see robust competition, you would expect to see prices coming down."
