Deal still awaits OK from U.S. Justice Dept.
Concert promoter Live Nation Inc. and ticket-selling company Ticketmaster Entertainment Inc. say shareholders have approved the two companies’ merger, although the deal still awaits approval by U.S. antitrust authorities.Live Nation said Friday that more than 99% of its shares were voted in favor of the deal. A Ticketmaster spokesman said separately that its shareholders also approved the deal, with more than 98% of its shares voted in favor. Both companies are awaiting a ruling by the U.S. Justice Department on whether the merger would hurt competition. Last month, the U.K.’s Competition Commission gave the merger its blessing, reversing a previous decision.