Live Nation Acquires Seatwave
Thursday, December 4, 2014
Complete Music Update (11/07/14) Cooke, Chris
Live Nation has acquired ticketing resale company Seatwave's "operating assets" through its Ticketmaster subsidiary, and the merger will enable the company to expand its resale business into new European markets, including Germany, Italy, and Spain. Live Nation says the acquisition "builds on Ticketmaster's successful strategy of creating best-in-class, consumer-friendly resale platforms in the United Kingdom, Australia, and the United States." The deal will permit Seatwave to remain in business independently but as "a Ticketmaster company." Live Nation CEO Michael Rapino says the Seatwave acquisition will accelerate the Europe-wide launch of a "safe and convenient" ticketing marketplace that strives to give fans a superior ticket purchasing experience. "We deliver quality services in the resale industry, which will continue to build consumer confidence and satisfaction in our resale marketplaces," says Ticketmaster International president Mark Yovich. Meanwhile, Seatwave CEO Ajay Chowdhury is confident the merger will be a boon for his company's patrons. "Since our inception seven years ago, we have given fans of live music, sport, theater, and comedy increased choice when buying and selling tickets," he says.
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