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Ticketmaster pays $265 million for better seat in marketplace: deal for TicketsNow may ease loss of client Live Nation.

Publication: Los Angeles Business Journal
Publication Date: 21-JAN-08
Format: Online
Delivery: Immediate Online Access
Full Article Title: Ticketmaster pays $265 million for better seat in marketplace: deal for TicketsNow may ease loss of client Live Nation.(ENTERTAINMENT)(Ticketmaster Group Inc. and TicketsNow.com)

Article Excerpt
Tieketmaster Inc.'s purchase of online ticket reseller TicketsNow Inc.--a kind of legitimized scalping marketplace--may be the best way to start bringing in fast cash.

The $265 million deal comes on the heels of Ticketmaster losing its biggest client, concert promoter Live Nation Inc. The contract with Live Nation, which represents 20 percent of the company's $1.1 billion revenue, will terminate by the end of the year.

"They need a very quick replacement for that and online secondary ticketing is extremely lucrative," said Sucharita Mulpuru, analyst for Forrester Research. "It's the best replacement they could leverage for...

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