January 25, 2010 / 7:27 PM / 10 years ago

US conditionally OKs Ticketmaster, Live Nation deal

WASHINGTON, Jan 25 (Reuters) - Ticketing giant Ticketmaster Entertainment TKTM.O and concert promoter Live Nation (LYV.N) won U.S. antitrust approval to merge on the condition that Ticketmaster divests certain assets and license its primary ticketing software, the Justice Department said on Monday.

Under the proposed settlement, Ticketmaster must sell its Paciolan ticketing unit to Comcast-Spectacor which has already signed a letter of intent, or to another company approved by the Justice Department, the agency said.

Additionally, the merged company would be barred from retaliating against any venue owner that uses another company’s ticketing or promotional services and must license its primary ticketing software to Anschutz Entertainment Group, the Justice Department said.

Reporting by Jeremy Pelofsky; Editing by Richard Chang

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