Concert promoter Live Nation Inc. has struck a deal to acquire nightclub operator HOB Entertainment Inc., owner of 10 House of Blues clubs and eight amphitheaters in major U.S. cities. The publicly traded Live Nation, headquartered in Los Angeles, will pay $350 million to get the Blues.

“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,” according to a statement from the company. Live Nation already controls 153 venues worldwide.

Started in 1992, the Los Angeles-based HOB operates venues with seating capacities in the 1,000- to 2,300- person range.

Live Nation expects to finalize the acquisition by the end of 2006. Goldman, Sachs & Co. and Morrison & Foerster LLP acted as consultants on the deal.