Ticketmaster Entertainment and Live Nation -- two of the most powerful companies in the music business -- could be merging as soon as next week, according to a report in the Wall Street Journal.

The announcement arrives on the heels of Live Nation, the world's largest concert promoter, launching its own ticketing company last month.

The boards of each company have not yet approved a deal and a merger would require review by antitrust authorities, according to the paper, which cited unnamed people familiar with the situation.

It was not clear which company would be acquiring the other, but the new company would be reportedly be called Live Nation Ticketmaster. The deal would not involve any cash transfer.

Details about the structure of the new company have not been set in stone, and it was unclear what titles would be held by Ticketmaster CEO Irving Azoff and Live Nation CEO Michael Rapino, according to the Journal. But it was expected that both executives would remain at the new company.

The merger of Live Nation with Ticketmaster Entertainment would bring together the largest concert promoter with the most powerful ticketing and management firm.

Last year, Ticketmaster acquired Front Line Management, which has a roster of more than 200 acts, including the Eagles, Neil Diamond and Christina Aguilera, among many others. In January, the bulk of Live Nation’s 10-year contract with Ticketmaster expired and the company launched an in-house ticketing company.

Representatives for Live Nation or Ticketmaster responded to the report, saying the companies do not comment on rumors or speculations.