Live Nation Entertainment Inc (LYV)

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Live Nation and Ticketmaster Entertainment Receive Second Request From the U.S. Department of Justice Regarding Proposed Merger
Date : 03/20/2009 @ 9:00AM
Source : PR Newswire
Stock : Live Nation (LYV)
Quote : 3.95 0.47 (13.51%) @ 2:51PM


Live Nation and Ticketmaster Entertainment Receive Second Request From the U.S. Department of Justice Regarding Proposed Merger





LOS ANGELES and WEST HOLLYWOOD, Calif., March 20 /PRNewswire-FirstCall/ -- Live Nation (NYSE:LYV) and Ticketmaster Entertainment (NASDAQ:TKTM) today announced that they have each received an expected Request for Additional Information from the United States Department of Justice (DOJ) regarding their proposed merger. This action, often referred to as a "second request," is pursuant to the Hart-Scott-Rodino Antitrust Improvements Act.

(Photo: http://www.newscom.com/cgi-bin/prnh/20090320/DC86630)

On February 10, 2009, Live Nation and Ticketmaster Entertainment announced their proposed merger. This request for additional information from the DOJ is a standard part of the full regulatory process. Live Nation and Ticketmaster Entertainment are in the process of gathering information to respond to the second request, and are working cooperatively with the DOJ as it reviews the merger.

Both companies expect the merger to close before the year's end. The transaction is subject to certain regulatory, shareholder and third-party approvals.

ABOUT LIVE NATION

Live Nation's mission is to maximize the live concert experience. Our core business is producing, marketing and selling live concerts for artists via our global concert pipe. Live Nation is the largest producer of live concerts in the world, annually producing over 22,000 concerts for 1,600 artists in 33 countries. During 2008, the company sold over 50 million concert tickets and drove over 70 million unique visitors to LiveNation.com. Live Nation is transforming the concert business by expanding its concert platform into ticketing and building the industry's first artist-to-fan vertically integrated concert platform. The company is headquartered in Los Angeles, California and is listed on the New York Stock Exchange, trading under the symbol LYV. For additional information about the company, please visit http://www.livenation.com/investors.

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