The boards of

Live Nation

(LYV) - Get Report

and

Ticketmaster

( TKTM) approved an agreement to merge, the

Wall Street Journal

reports.

The proposed combination, which would create an entertainment powerhouse, could be put intense regulatory review, the newspaper notes.

Ticketmaster's board approved the deal on Sunday, but a handful of unresolved issues prevented Live Nation from doing so for around 24 hours. The

Journal

reports people familiar with the matter describing the sticking points as relatively minor, including accounting issues.

The deal could be announced Tuesday.

The new entity is to be called Live Nation Entertainment Inc. If approved by regulators, the deal would consolidate under one roof the dominant concert promoter, ticketing company and artist-management concern, according to the

Journal

.

People close to Live Nation and Ticketmaster have said they expect to win regulatory approval with ease because the two companies aren't really competitors. Live Nation launched a ticketing service only in January, and it currently handles ticket sales for a limited number of venues, all owned by Live Nation itself, the newspaper reports.

This article was written by a staff member of TheStreet.com.