Live Nation, the world's largest concert promoter and Ticketmaster, the leading ticketing and artist-management are likely to agree on a merger as soon as this week, Reuters reported.

The combined company would be called Live Nation Ticketmaster, according to the Wall Street Journal which reported the news first quoting a person familiar with the talks. The CEO is expected to be Live Nation's Chief Executive Michael Rapino, a person told Reuters.

The deal will not involve a cash transfer, Reuters notes. It would have a combined market of over $700 million, according to a source who spoke to Reuters.

The boards of both companies have yet to approve the deal, the sources said. The merger attempt could face major antitrust issues from competitors, an anonymous music label told Reuters.