Despite the fact that Universal and Live Nation are competitors across a number of sectors, the companies have signed a pact that will allow the latter's artist management division Front Line to lead a joint venture with Universal's equivalent operations, including Sanctuary, Trinifold, 5B and Twenty First Artists.

Furthermore, Live Nation's ticketing business Ticketmaster will handle all bundling packages that the two giants collaborate on for their artists. No financial details have been disclosed, but the partners said that the ...