Live Nation today announced it has entered into a definitive merger agreement to acquire House of Blues  for an aggregate purchase price of $350 million in cash.

House of Blues operates 10 venues under the brand in cities such as Las Vegas, Los Angeles, Chicago and Orlando, and eight amphitheaters in cities including Atlanta, Toronto, San Diego and Dallas. The acquisition will allow Live Nation to expand its presence in the growing mid-size venue business and fill in geographic gaps in its existing amphitheater network.

Live Nation Chief Executive Officer Michael Rapino commented: "We have great respect for the House of Blues employees and what they have accomplished and we look forward to welcoming them into the Live Nation family."

Meanwhile back in blighty: The grapevine has it that the 'Live Nation Family' is getting bigger still. Rumourmill has it that Live Nation has bought the Academy Music Group using it's Hamsard subsidery that is shares with Irish concert promoter MCD. Which comprises of Carling Academy Birmingham, Carling Academy Bristol, Carling Academy Brixton, Carling Academy Glasgow, Carling Academy Islington, Carling Academy Liverpool and the Shepherds Bush Empire.

Lets hope they put a decent beer in them.