Live Nation May Sell Venues To AEG
Live Nation has signaled that they may be willing to sell a portion of their venues at favorable terms to their chief rival, AEG Live in a bid to get the Justice Department to sign off on their proposed merger with Ticketmaster.
"The fact that they are out there talking with others about deals suggests that they are nervous about getting approval," a source close to the negotiations told the New York Post "They are trying to pretty up the deal as much as possible for the regulators."
The New York Post did not list any specific Live Nation venues as being under for sale, but Live Nation is the largest venue owner in the U.S. with a sizeable inventory of theatres, clubs and amphitheatres around the United States. In 2009, Live Nation sold what it described as non-core assets, including sizeable theatrical units in both the U.S. and the U.K. in order to narrow their focus to the music industry.
Live Nation and Ticketmaster declined to comment.
Celebrity Access Media Wire