LN, Ticketmaster shareholders OK merger

Companies awaiting ruling by the 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.
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