Comcast Aims to Assist Ticketmaster Deal

NEW YORK (TheStreet) -- Comcast(CMCSA Quote) is in talks with Ticketmaster(TKTM Quote) and Live Nation (LYV Quote) to help the two companies salvage their proposed merger which is currently under U.S. antitrust scrutiny, Bloomberg reports, citing two people familiar with the development.

Under a proposal, Comcast, the largest cable operator in the U.S., may receive spinoffs of ticketing software and client contracts in an effort to alleviate Justice Department concerns that the Ticketmaster-Live Nation deal would inhibit competition, the sources added, Bloomberg reports.

U.S. officials have previously raised concerns the Ticketmaster-Live Nation deal may give the combined company too much control over ticket prices.

Comcast has met with Justice Department officials to discuss the proposal, Bloomberg reports.

The move by Comcast to expand its ticketing operations is another example of it trying to grow beyond its core cable television business, Bloomberg notes. Comcast owns New Era Tickets, whose clients include the Philadelphia 76ers, Portland Trailblazers and World Wresting Entertainment. Inc.

And as reported, Comcast also is in talks with General Electric(GE Quote) to create a company that would include GE's NBC Universal.