LOS ANGELES (CelebrityAccess MediaWire) — Media mogul John Malone's Liberty Media Corp got the nod from U.S. anti-trust regulator over its' bid to increase its stake in the newly-merged Live Nation Entertainment.
According to Reuters, regulators at the Federal Trade Commission put the deal on their list of approved transacation. Liberty's tender offer on Monday was for 34.2 million shares of Live Nation at $12 per share.
Liberty had announced its plan to increase its holdings from approximately 14% to 34.9 percent last week right after the merger between Live Nation and Ticketmaster cleared. Live Nation however proved to be hesitant on the deal, advising its stockholders to hold off on Liberty's offer. – CelebrityAccess Staff Writers