May 9, 2011 | 10:20am ET
Faced with declining ticket sales and a slumping economy, Live Nation has partnered with daily deals website Groupon to a form a new online ticketing deals website, GrouponLive.
According to an issued press release, GrouponLive will “serve as a local resource for Live Nation events and clients of its global ticketing business, Ticketmaster. The site will be a groundbreaking resource for consumers to find high-value tickets to concerts, sports, theater, arts and other live events, while serving as a timely and effective way for merchants to sell more tickets.” The website will be launched “in time for the summer concert season.”