Monday, January 25, 2010

LiveNation, Ticketmaster +11% as deal gets DOJ approval (TKTM,LYV)

CNBC is reporting that the Department of Justice has approved the merger between Ticketmaster(TKTM) and LiveNation (LYV), sending TKTM and LYV higher:

The most vocal opponent to the deal was competitor Anschultz Entertainment Group, whose CEO said last year that the deal was "not good for the industry." In an attempt to secure DOJ approval, it appears that last week LiveNation was offering Anschultz some of its locations in order to gain favor. It's not clear if any assets changed hands yet, but the
NYPost suggested that Anshcultz was cleverly trying to pick up assets on the cheap. Nice move if that's true.

Copyright 2010 AlphaNinja

1 comment: