The new company would be called Live Nation Ticketmaster, marrying the world's biggest concert promoter with the dominant ticketing and artist-management company. The companies have ties to more than 200 major artists such as the Eagles, Miley Cyrus, Christina Aguilera, Madonna and Jay-Z.

The paper, citing the unnamed sources, said the boards of both companies have yet to approve a merger and sticking points remain in the negotiations.

The deal, which will not involve any cash transfer, could be announced as early as next week, according to the Journal story.

Ticketmaster spokesman Albert Lopez declined to comment. Live Nation officials were not immediately available for comment.

Last year Ticketmaster acquired Front Line Management, which represents around 200 major clients.

Irving Azoff, head of Ticketmaster, and Live Nation Chief Executive Michael Rapino both are expected to remain at the combined organization but their exact roles have not yet been nailed down.

(Reporting by Joseph A. Giannone and Ritsuko Ando; editing by Carol Bishopric)