Live Nation Launches Joint Venture With Groupon

Los Angeles-based Live Nation Entertainment and daily deals site Groupon are launching a new joint venture, the companies announced today. According to the two, they have created a new joint venture called GrouponLive focused on new online ticketing deals. The companies said that GrouponLive will provide a local resource for Live Nation events and clients of ticketing business Ticketmaster, offering up deals on tickets to concerts, sports, theater, arts, and other live events. Financial details of the joint venture were not disclosed by the firms. The two said they expect to launch the new website by the summer concert season.