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Ticketmaster acquires TicketsNow

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Ticketmaster of IAC, announced that it has entered into a definitive agreement to acquire TicketsNow for $265 million.

Ticketmaster will create an integrated platform on which fans will be able to simultaneously review and compare ticket availability and pricing in the primary, premium and resale categories. Building upon its existing TicketExchange resale marketplaces and partnerships with the NFL, NHL and NBA, Ticketmaster will work closely with its venue, promoter, team and other live entertainment clients to offer ticket validation and electronic ticket delivery to fans purchasing in the resale marketplace. The acquisition will put Ticketmaster in colliding path with StubHub.

TicketsNow works with more than 800 professional ticket resellers that are vetted to ensure the highest levels of accountability and integrity.

Upon closing of the sale, TicketsNow will continue to operate from its Rolling Meadows and Crystal Lake, IL locations. Cheryl Rosner will continue as CEO, and the company’s current management team is expected to remain in place.

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Originally posted on January 15, 2008 @ 11:48 am

IAC to spend $100 million in China

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iac1.pngThe Wall Street Journal reports that IAC/InterActiveCorp. is planning to enter China with $100 million earmarked for Internet businesses. A new company is expected to launch within a year and would cover media and advertising. IAC is also planning to bring Ask.com to China. Prior to this announcement, IAC has already invested $200 million in China, the report said.

Originally posted on November 25, 2007 @ 10:18 am