Ticketmaster And Live Nation 'In Merger Talks'

Ticketmaster and Live Nation are in merger talks and could announce details of a partnership before the end of this week, reports claim.

If finalised, the deal, valued at a reported $700million, would unite the world's leading ticket company and biggest concert promoter under the name Live Nation Ticketmaster.

A report in yesterday's (February 3rd) Wall Street Journal said the boards of both companies have yet to approve the deal.

However, talks are said to be in an advanced stage.

Both companies have made ambitious moves into each other's fields over recent months, with Live Nation signing a number of acts, including Jay-Z and Madonna, to all-encompassing deals.

Ticektmaster, meanwhile, last year bought Front Line Management, taking on 200 artists.

Any merger would likely face resistance from rival companies over the potential market monopoly the two companies would acquire.

A senior music label source told Reuters the merger would "face major antitrust issues from managers, record companies, ticketing companies and concert promoters to name a few - not to mention the Obama administration will be very tough on this stuff."

Neither company has commented on the reports.