Daily deals site Groupon Inc. is linking up with the country’s largest concert promoter, Live Nation Worldwide Inc., in a ticketing service that will launch in time for the summer concert season, the companies said today.

Financial terms were not disclosed for the joint venture, called GrouponLive.

Live Nation’s reach will give Groupon subscribers “unprecedented access” to live entertainment, Groupon founder and CEO Andrew Mason said in a prepared statement. The new site will feature discount offers on tickets to concerts, sports, theater, arts and other events, CNNMoney.com said.

As of March, Groupon had 70 million subscribers around the globe, including 31 million in North America. The company’s past event deals have included discounts on tickets for Macworld, baseball games and Bon Jovi concerts.

Meanwhile, Live Nation Entertainment is a conglomerate of four of the biggest names in the music business. Its merger with Ticketmaster, which combined the nation’s largest seller of live event tickets and its biggest concert promoter, sparked an antitrust investigation in 2009. The merger was completed last year, and the combined company sold almost 120 million tickets in 2010.

Live Nation Concerts produces more than 20,000 shows around the world each year, and its Live Nation Network is a top entertainment marketing firm. The fourth piece of Live Nation is Front Line, the leading global artist management company.