Ticketmaster Obtains TicketsNow
Late last week, IAC’s Ticketmaster completed its acquisition of a software provider called Paciolan. Today, Ticketmaster is on the move again with a $265 million deal to buy TicketsNow.
TicketsNow is a ticket reseller, and in that field, comes in second only to eBay’s StubHub; Chief Executive Cheryl Rosner said her company sold $202 million in tickets during 2006.
2007 figures remain unavailable, but it looks as if TicketsNow is destined to remain on an upward trend. Ethan Smith reports, "Ticketmaster President and Chief Executive Sean Moriarty said the company plans to share revenue from its new division with clients that own venues or promote events," and that’ll certainly be a popular way of handling things among potential customers.
This is a fairly tumultuous time for IAC, however, with a switch at the top level of Ask.com taking place less than a week ago. Looking farther back, a year-long view of IAC’s stock is downright depressing, and in the near future, there’s the impending five-way split of the corporation.
The TicketsNow acquisition won’t be a cure-all, then, yet it should help bring in a few more dollars.