DOJ Sends 'Second Request' To Live Nation And Ticketmaster
March 20, 2009 at 6:26 AM (PT)
LIVE NATION and TICKETMASTER ENTERTAINMENT have each received an expected "Request for Additional Information" from the UNITED STATES Department of Justice (DOJ) regarding their proposed merger. This action, often referred to as a "second request," is pursuant to the HART-SCOTT-RODINO Antitrust Improvements Act.
On FEBRUARY 10, 2009, LIVE NATION and TICKETMASTER ENTERTAINMENT announced their proposed merger (NET NEWS 2/10). This request for additional information from the DOJ is a standard part of the full regulatory process. LIVE NATION and TICKETMASTER ENTERTAINMENT are in the process of gathering information to respond to the second request, and are working cooperatively with the DOJ as it reviews the merger.
Both companies expect the merger to close before the year's end. The transaction is subject to certain regulatory, shareholder and third-party approvals.