( TKTM) and
are close to a merger, the
Wall Street Journal
reports, citing people familiar with the matter.
The combined company would be called Live Nation Ticketmaster, and would merge the world's biggest concert promoter with the world's dominant ticketing and artist-management company, the
reports. The combined firm would be able to manage everything from recorded music to ticket sales and tour sponsorship.
The boards of both companies have yet to approve the all-stock merger, the newspaper reports, and terms of what has been described as a merger of equals have yet to be worked out.
says it was unclear Tuesday evening which company would be acquiring the other. Live Nation's market capitalization, at $390 million, is slightly higher than Ticketmaster's $351 million. But the concert promoter has more debt and less cash.
The merger would require review by antitrust authorities. The deal, which wouldn't entail any exchange of cash, could be announced as early as next week, the
reports, citing the people close to the deal.
Live Nation spokesman John Vlautin said the company doesn't comment on "rumors and speculation," the
reports. Ticketmaster didn't immediately respond to messages seeking comment.
This article was written by a staff member of TheStreet.com.