NEW YORK – Madonna’s deal to abandon Warner Music for concert promoter Live Nation signals more than just a tectonic shift in the music distribution business: It shows how far Live Nation is willing to go to break the hammerlock that Ticketmaster has on online concert and sporting ticket sales.
The core benefit to Live Nation of the $120 million contract with the pop superstar is the opportunity to tap into concert, recording, merchandising and other revenue streams.
But don’t discount the role that ticket fees play. Buyers may be annoyed by the $5 or more in convenience and delivery fees tacked on to every ticket ordered online or over the phone, but they’ve proved to be a gold mine for Ticketmaster.
Bloomberg News
Chinese imports seen as threat to food safety
WASHINGTON – Rep. Diana DeGette warned Congress Thursday that a dramatic increase in Chinese imports is hampering the Food and Drug Administration’s ability to ensure the safety of the nation’s food supply.
At a hearing of the House Energy and Commerce Committee, the Denver Democrat said the FDA does not have the budget or manpower to match the growing number of food imports. The agency is responsible for regulating most food products from other countries.
“In 2007, we are at the mercy of a food safety system that was designed for the 1970s,” DeGette said.
She recently introduced bills in Congress that would give the FDA the authority to force recalls of tainted food and create a tracing system to follow the movement of food products.
ConAgra pot pies linked to illness
OMAHA – ConAgra Foods Inc. has asked stores to stop selling pot pies linked to a salmonella outbreak and is offering refunds for the turkey- and chicken-filled meals.
The pot pies made by ConAgra have been linked to at least 152 cases of salmonella in 31 states. The federal Centers for Disease Control and Prevention said at least 20 people have been hospitalized as part of the ongoing outbreak, but so far no deaths have been linked to the pot pies.
NASA picks 5 Colorado companies
WASHINGTON – Five Colorado companies were selected to negotiate Small Business Innovation Research Phase 2 contracts, NASA announced Thursday. Phase 2 contracts last up to two years and are worth up to $600,000.
The companies are Atmospheric Observing Systems Inc., Boulder; TerraMetrics Inc., Littleton; Synkera Technologies Inc., Longmont; sysRAND Corp., Parker; and Quest Product Development Corp., Wheat Ridge.
Tax fraud suspect released on bond
Winter Park resident Robert D. Larsen, who was arrested Wednesday on a a five-count indictment for conspiring to promote, market and sell fraudulent tax shelters over a 10-year period, was released on a $20,000 unsecured bond after appearing before U.S. Magistrate Judge Craig B. Schaffer on Thursday.
Larsen; Peter J. Peggs of Prides Crossing, Mass.; and Craig M. Stone of Fort Pierce, Fla., were indicted Oct. 3 by a federal grand jury in Grand Rapids, Mich.
Texan pays $6.27 million for ranch
TELLURIDE – A Texas man paid $6.27 million for the Last Dollar Ranch near Telluride.
Randy Lewis of San Antonio was the high bidder for the ranch, site of Marlboro and Budweiser commercials, in an auction put on Thursday by Gadsden, Ala.-based J.P. King Auction Co.
Also selling in the auction was Eagles Nest, a newly built home in Ridgway. It sold for $1.41 million to Tom and Judy Christopher of Coppell, Texas.
Help on the way to pay energy bills
Energy Outreach Colorado plans to distribute $9.36 million statewide to help low-income residents pay their energy bills and winterize their homes this heating season. The funding includes $5.4 million for energy assistance payments.
Date set for ruling in fight over Utah resort sale
A Denver District Court judge plans to rule Oct. 19 on a motion by Vail Resorts Inc. to delay American Skiing Co.’s sale of the Canyons Ski Resort in Utah to developer Talisker Corp. Vail claims that it has been illegally prevented from bidding on the property.
