BUSINESS BRIEFING / ENTERTAINMENT
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Times Staff and Wire Reports
Ticketmaster Entertainment Inc. said its second-quarter net income plunged 70% as ticket sales volumes fell and it booked expenses related to its pending merger with concert promoter Live Nation Inc.
Net income in the quarter that ended June 30 dropped to $7 million, or 12 cents a share, from $23 million, or 41 cents, a year earlier.
Revenue fell 7% to $355 million.
Excluding $5 million in merger costs, adjusted earnings hit 20 cents a share.
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