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Ticketmaster Entertainment Inc (TKTM.O) posted a 70 percent slump in second-quarter profit, hurt by lower ticketing revenue, especially in the concerts category. The company, which is in a protracted merger with world's largest concert promoter Live Nation Inc (LYV.N), earned $6.9 million, or 12 cents a share, compared with $23 million, or 41 cents a share, a year ago. Revenue fell 7 percent to $355.1 million. Ticketing revenue fell 18 percent to $311.9 million due to an 11 percent decrease in the number of tickets sold. Ticketing revenue from the concerts category had the largest volume decline as the company's principal ticketing agreement with concert promoter Live Nation expired.
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