Complex sentence: Clear Channel Entertainment was spun off in 2005 to form Live Nation, and merged with Ticketmaster in 2009 to form Live Nation Entertainment; as of 2012, Live Nation is the largest concert promoter in the world.
Split into simpler sentences: Clear Channel Entertainment was spun off in 2005 to form Live Nation, and merged with Ticketmaster in 2009 to form Live Nation Entertainment. As of 2012, Live Nation is the largest concert promoter in the world.