IAC/InterActive Corp's Ticketmaster, the largest U.S. ticket seller, has halted talks to reach a new long-term agreement with concert promoter Live Nation, according to The Wall Street Journal.
Ticketmaster said in an internal memo it would not renew its agreements to sell seats for events at buildings owned by Live Nation, the Journal reported on its Web site.
Live Nation is Ticketmaster's largest client and, along with its House of Blues subsidiary, generates about 20 percent of its revenues, or roughly $1 billion last year, the Journal said.
IAC, Ticketmaster and Live Nation officials were not immediately available for comment late on Wednesday.