Groupon and Live Nation Entertainment, Inc. today announced that they have a formed a joint venture to develop a new online ticketing deals channel, GrouponLive.

GrouponLive will serve as a local resource for Live Nation events and clients of its global ticketing business, Ticketmaster. The site will be a groundbreaking resource for consumers to find high-value tickets to concerts, sports, theater, arts and other live events, while serving as a timely and effective way for merchants to sell more tickets. Financial terms of the deal were not disclosed. Launch is planned in time for the summer concert season.

Users of GrouponLive will have access to limited-time deals on a variety of events across North America. The site will update offers as new events become available.

To be notified when GrouponLive launches, visit www.grouponlive.com.

Live Nation Entertainment is a leading live entertainment and eCommerce company, comprised of four market leaders: Ticketmaster.com, Live Nation Concerts, Front Line Management Group and Live Nation Network.

Groupon, launched in November 2008 in Chicago, features a daily deal on the best stuff to do, eat, see and buy in more than 500 markets around the world.