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Ticketmaster tie-up only show in town
10.02.09
The merger between Ticketmaster and Madonna's promoter Live Nation is understood to have been approved by the companies' boards and an announcement is likely today.
The deal, which would create an entertainment industry giant running ticketing and concerts for the world's biggest music acts, will face intense regulatory review amid concerns about its power to set concert ticket prices.
Ticketmaster's board has already signed off on the deal but the Wall Street Journal says Live Nation still has some "relatively minor" issues to address.
The merger would create the most powerful entity in the music industry, combining management, ticketing, venue operation and merchandising under one roof, while dropping the Ticketmaster name.
Some reports suggest that Ticketmaster investors would receive about 18% more shares since Live Nation has a larger shareholder base.
The deal is likely to face opposition from rivals.
