WSJ: Live Nation, Ticketmaster in Advanced Merger Talks

Authored by Mark Hefflinger on February 4, 2009 - 10:17am.

Los Angeles - Concert giant Ticketmaster (NASD: TKTM) is close to a negotiating an merger deal with concert promoter Live Nation (NYSE: LYV) -- which is preparing to launch its own rival ticketing service -- the Wall Street Journal reported, citing people familiar with the matter. While the companies' respective boards have not yet approved the deal, it is expected to not include an exchange of cash, and could be announced as early as next week. The Journal noted that the deal may very well raise antitrust concerns at the Federal Trade Commission (FTC), given the companies' positions in the music business.

Live Nation, itself a spin-off of the concert promotion unit of Clear Channel several years ago, recently began signing lucrative "360 deals" with artists such as Madonna and Jay-Z, which include recording and merchandising rights.

Meanwhile, Ticketmaster in October bought a majority stake in talent agency Front Line Management Group, headed by industry veteran Irving Azoff.

If the deal is consummated, the combined company is expected to be called Live Nation Ticketmaster. The Journal noted that who would lead the company has been a sticking point in negotiations.

http://blog.wired.com/business/2009/02/live-nation-and.html

http://www.ticketmaster.com

http://www.livenation.com