Live Nation shares are currently up 10.22% to $5.50. Ticketmaster Entertainment shares are up 15.36% to $7.08.

Ticketmaster was at $25 in August 2008. Live Nation was at $17 in August. Investors obviously feel what executives at both companies feel: a merger is one way to deliver a return on investment in the face of a sour economy and dimming prospects for entertainment companies in general. Just as important to the companies, they could stop taking revenue and market share from the other. Ticketmaster gets around losing Live Nation's ticketing revenue. Live Nation gets access to Ticketmaster's database and its healthier balance sheet.

The jumps also show many investors are not terribly worried about a merger not getting regulatory approval.

Additional reading with quotes from analysts:

• Forbes.com: "We have watched the two sides playing a game of mutually assured destruction over the last year, with both stocks seemingly going down with each move."
• AP: "Such a deal would cap a year long process of increased competitiveness between the two companies."
• The Ticker: Anti-trust concerns exist "given the conflicts between Live Nation's size in the concert promotion industry and the fact that Ticketmaster provides ticketing for many of Live's competitors. In addition, having the concert promotion and talent management under one roof could cause conflicts of interest."