LOS ANGELES (CelebrityAccess MediaWire) — Stockholders at annual meetings for both Live Nation and Ticketmaster voted to approve the issuance of common stock, effectively greenlighting the proposed a merger between the two firms.
The results of the vote were strongly in favor of the deal with more than 99% of Live Nation's voting shares and 98% of Ticketmaster shareholders supporting the proposal. Shareholders for both firms also approved other items on the ballot, including a proposal to change Live Nation's name to Live Nation Entertainment, Inc., and approving the re-election of all 11 members of Ticketmaster's Board of Directors, along with the amendment and restatement of the Company’s 2008 Stock and Annual Incentive Plan
Despite these votes, the deal between the two entertainment giants is still pending approval by Federal regulators at the U.S. Department of Justice. – CelebrityAccess Staff Writers