U.S. Justice Dept. Reported Close To Approving Ticketmaster & Live Nation Merger
(UPDATED) The Justice Department is poised to approve Ticketmaster's proposed $720 million purchase of Live Nation with some conditions, as early as the end of this month, sources close to the investigation told merger and acquisitions service The Deal Pipeline on Tuesday.
Staff lawyers in the Department Of Justice's antitrust division were reported to be "unenthused" about pursuing the potential vertical competition threats that critics argued would stem from combining the nation's largest ticket seller with its biggest concert promoters.
In a move that is probably more related to year end tax planning than insider information, late last week Live Nation CEO Michael Rapino sold 27,338 shares of Live Nation stock worth almost $750,000.