Live Nation Entertainment promises to improve attendance at events
Ticketmaster and Live Nation have announced they will merge to form one company.
The world's largest ticketing company will join forces with the world's biggest concert promoter with immediate effect.
It is a move that the two parties claim will improve ticket price options, increase attendance at events and make ticket technology better.
The new company will be called Live Nation Entertainment.
The company said in a statement: "Live Nation Entertainment will have the tools to expand access, improve transparency and deliver artists and fans more choice - driving greater attendance at live events and bringing more value to all major constituents in the industry."
It remains to be seen what impact the merger will have on live music fans.
Barry Diller, the new Chairman of Ticketmaster Entertainment, said: "Being able to put Live Nation and Ticketmaster into an equal partnership will allow the companies to get through this difficult period and be able to expand live entertainment options to audiences throughout the world."