LOS ANGELES (Top40 Charts/ Live Nation) - 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.
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 www.livenation.com/investors.
About Ticketmaster Entertainment
Ticketmaster Entertainment consists of Ticketmaster and Front Line Management Group. As the world's leading live entertainment ticketing and marketing company, Ticketmaster connects the world to live entertainment. Ticketmaster operates in 20 global markets, providing ticket sales, ticket resale services, marketing and distribution through www.ticketmaster.com, one of the largest e-commerce sites on the Internet; approximately 7,100 retail outlets; and 17 worldwide call centers. Established in 1976, Ticketmaster serves more than 10,000 clients worldwide across multiple event categories, providing exclusive ticketing services for leading arenas, stadiums, professional sports franchises and leagues, college sports teams, performing arts venues, museums and theaters. In 2008, the Company sold more than 141 million tickets valued at over $8.9 billion on behalf of its clients. Ticketmaster Entertainment acquired a controlling interest in Front Line in October 2008. Founded by Irving Azoff and Howard Kaufman in 2004, Front Line is the world's leading artist management company. Ticketmaster Entertainment, Inc. is headquartered in West Hollywood, California (Nasdaq: TKTM https://www.ticketmaster.com/).
