Live Nation Inc.’s largest shareholder, Shapiro Capital Management Co., opposes the proposed merger with Ticketmaster Entertainment Inc., saying the concert promoter is better off on its own.

While the deal would benefit Ticketmaster, “Live Nation is much better going it alone,” Sam Shapiro, chairman of Shapiro Capital, said Thursday in an interview. The Atlanta-based firm owns 11.9 million shares, or 15 percent, of Beverly Hills-based Live Nation, according to Bloomberg data.

Shapiro said he spoke with Live Nation Chief Executive Michael Rapino to voice his concerns about the merger announced this week. Organizing fellow shareholders to block the deal is “an option,” Shapiro said.

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