BREAKING: Live Nation-Ticketmaster Merger To Be Approved

Posted by on January 25, 2010

Reuters is reporting the Justice Department is set to approve the merger of ticketing giant Ticketmaster with mega-promoter Live Nation.

Further details are scarce, including whether approval would come with our without conditions.

The deal, reportedly valued at around $798 million, has been under attack from artists, fans and politicians since it was announced. Some consider it a test case for the Obama administration’s pledge to get tough on mergers.

Live Nation would own 49.99 percent of the combined company, while Ticketmaster would hold the remaining 50.01 percent.

Shares in Live Nation were up 89 cents, or 9.7 percent, to $10.05 in early Monday afternoon trading, while Ticketmaster was up $1.45, or 10.9 percent, at $14.75.

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Categorised in: Ticketing