Simon Vozick-Levinson
February 04, 2009 AT 08:08 AM EST

Executives at Live Nation and Ticketmaster are considering a merger, according to a report in The Wall Street Journal. Live Nation is the world’s largest concert promoter, while Ticketmaster is a major ticketing service; both companies have expanded into new fields in recent years, with Ticketmaster acquiring an artist-management firm and Live Nation inking deals to release music and promote tours by stars including U2, Madonna, and Jay-Z. If the two join their operations, the proposed Live Nation Ticketmaster corporation would represent a major new force in the music industry. The Journal cites sources saying a deal could be announced as soon as next week.

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