Live Nation, Ticketmaster to respond to DOJ second request

By Lisa Kerner

Charlotte, N.C., March 20 - Live Nation, Inc. and Ticketmaster Entertainment, Inc. both received a request for additional information from the United States Department of Justice regarding their proposed merger.

The companies said they expected the "second request" under the Hart-Scott-Rodino Antitrust Improvements Act.

Live Nation and Ticketmaster said they are gathering information in response to the request and working cooperatively with the DOJ.

Both companies expect the merger to close by year-end.

In February, Live Nation and Ticketmaster agreed to combine in a merger of equals to create Live Nation Entertainment.

As previously reported, Ticketmaster shareholders will receive 1.384 shares of Live Nation common stock for each share of Ticketmaster they own, subject to adjustments, under the merger agreement.

Once the merger is complete, Live Nation and Ticketmaster shareholders will each own about 50% of the combined company and Live Nation and Ticketmaster each will have seven directors on the 14-member board, the companies said.

Live Nation is a Beverly Hills, Calif., concert promoter, and Ticketmaster is a West Hollywood, Calif.-based ticketing company.

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