Live Nation-Ticketmaster deal vote set for Jan. 8
LOS ANGELES (AP) - In a tacit acknowledgment of a delay in their
plan to combine, Live Nation Inc. and Ticketmaster Entertainment
Inc. said in filings Friday that a shareholders meeting to approve
the deal is set for Jan. 8.
The companies had previously said they expected to complete the
deal by the end of the year.
Regulatory authorities have been closely scrutinizing the plan,
however, potentially delaying it.
NYSE:LYV Updated: 16:05 ET 7.57 -0.13 |
NASDAQ:TKTM Updated: 15:59 ET 11.02 -0.14 |
Last month, the U.K. Competition Commission came out against the
deal, saying the combination could inhibit the entry of a major new
competitor, CTS Eventim, in the U.K. ticketing market.
The British regulators had initially said they would wait until
Nov. 24 to determine what actions to take, but on Thursday extended
the deadline for a final report to Jan. 19.
The U.S. Department of Justice has not yet given its opinion on
the plan, which would bring together the world's largest concert
promoter with its most dominant ticket-seller by volume.
11/06/09 19:44
© Copyright The Associated Press. All rights reserved. The information contained In this news report may not be published, broadcast or otherwise distributed without the prior written authority of The Associated Press.