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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > Entertainment > Article Home Business & Finance News U.S. Politics International Technology Entertainment Film Music People Television Arts Industry Sports Lifestyle Oddly Enough Environment Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters U.S. Senator proposes waiting period for ticket resellers Sun Apr 5, 2009 11:50pm EDT Email | Print | Share | Reprints | Single Page [-] Text [+] By JoAnne Allen WASHINGTON (Reuters) - Sen. Charles Schumer on Sunday unveiled a proposal aimed at giving fans a better chance to buy hot concert tickets at face value before ticket resellers scoop them up and raise the prices. The proposed legislation would set a two-day waiting period from when tickets go on sale through normal channels before a ticket reseller can buy the tickets to put on the secondary market, Schumer, a New York Democrat, said in a statement. "The bottom line is we need to create a fair system where fans get first crack at good seats at a reasonable price," Schumer said. The measure would also require ticket reseller to register with the Federal Trade Commission to prevent fraudulent or anonymous sales. Schumer unveiled the measure the day before concert tickets go on sale for U2 performances in New York. Schumer said he had discussed the proposed legislation with Ticketmaster, which is seeking to merge with the world's largest concert promoting company Live Nation. Ticketmaster CEO Irving Azoff said he supports the proposal. "Ticketmaster recognizes that the ticket resale industry needs far-reaching changes to better protect consumers and ensure fair access to tickets," Azoff said. Ticketmaster was besieged by complaints earlier this year when fans of Bruce Springsteen who signed on to Ticketmaster to buy concert tickets were told they had sold out within minutes. They were instead directed to the reseller TicketsNow which had considerably more expensive tickets. Ticketmaster acknowledged last week that it has been subpoenaed or received other requests for information from the U.S. Justice Department, the Federal Trade Commission and the New Jersey Attorney General's office. The law enforcement agencies were interested in Ticketmaster's relationship with its reseller TicketsNow, in particular over controversial sales of tickets to Springsteen shows in New Jersey on May 21 and 23, according to a company email displayed on the industry blog TicketNews.com. Ticketmaster has said the problem was caused by a computer glitch. (Reporting by JoAnne Allen; Editing by Ian Geoghegan) © Thomson Reuters 2009 All rights reserved Share: Del.icio.us Digg Mixx Yahoo! Facebook LinkedIn Next Article: McCartney and Starr reunite for meditation also on reuters Blog: Sex, drugs and toxic shrubs: Best reads of March New York bankers best paid, London at bottom: poll Video Video: Who wants the best job in the world? 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