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DOJ Clears Live Nation/HoB Deal
Breaking News: The Department of Justice has given its blessing to the acquisition of
Staffs of both LN and HoB were notified by respective chiefs Michael Rapino and Greg Trojan that the deal is virtually done, save for the issue of transition.
Once the transaction is closed, the ownership of House of Blues Entertainment will formally be transferred to Live Nation stockholders.
The DOJ’s clearance, which reportedly was issued October 27th, came somewhat earlier than anticipated.
When the acquisition proposal was announced in July, it was believed the deal would close by the end of the year. Instead, the transaction will occur with much integration work left outstanding.
That work is expected to be completed within 30 to 60 days, however, and Live Nation has assured HoB that it will strive to make the transition as smooth as possible.