Ticketmaster Entertainment Merges With Live Nation
January 26, 2010, 14 years ago
Ticketmaster Entertainment, Inc. has merged with Live Nation, Inc. The merged entity will bear the name Live Nation Entertainment, Inc.
Ticketmaster is an online entertainment ticketing and marketing company while Live Nation is a producer of live concerts. Both the companies are based in the US.
Earlier, today, the US Department of Justice and the Canadian Commissioner of Competition have conditionally approved the proposed transaction.
Under the terms of the proposed final judgment filed today in US District Court for the District of Columbia, the companies have agreed to divest Ticketmaster's self-ticketing subsidiary Paciolan to Comcast-Spectacor and to license the Ticketmaster Host technology to Anschutz Entertainment Group, Inc., as well as to other terms that protect competitive conditions in ticketing and promotions.
Under the terms of transaction, each issued and outstanding share of Ticketmaster common stock will be cancelled and converted into the right to receive a number of shares of Live Nation common stock such that Ticketmaster stockholders will receive approximately 50.01% of the voting power of the combined company. Subject to final confirmation, the companies expect each share of Ticketmaster common stock to be cancelled and converted into the right to receive 1.474 shares of Live Nation common stock in connection with the merger and for Live Nation to issue approximately 84,613,661 shares of Live Nation common stock to Ticketmaster stockholders in the aggregate.
