Ticketmaster Announces Agreement to Acquire Leading Online Ticket Resale Marketplace...

Ticketmaster Announces Agreement to Acquire Leading Online Ticket Resale
Marketplace TicketsNow(R)
Acquisition to bolster Ticketmaster's position in ticket resale category and
offer fans greater security, reliability and convenience
W. HOLLYWOOD, Calif. and ROLLING MEADOWS, Ill., Jan. 15 /PRNewswire/
-- Ticketmaster, the world's leading ticketing company and an operating
business of IAC (Nasdaq: IACI), today announced a major expansion of its
ticket resale business by entering into a definitive agreement to acquire
TicketsNow, the leading independent Web-based marketplace for music, sports
and other live entertainment event tickets. The acquisition will make
Ticketmaster a leading company in the resale category.
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.
"Fans have embraced ticket resale, and the combination of Ticketmaster and
TicketsNow will allow us to provide a safer, more reliable and efficient
resale experience," said Sean Moriarty, President and CEO of Ticketmaster.
"We are confident that combining TicketsNow's strong resale network with our
audience and distribution capabilities will enable us to set a new standard in
the resale category."
Launched in 1999 and based in Rolling Meadows, Illinois, TicketsNow works
with more than 800 professional ticket resellers that are vetted to ensure the
highest levels of accountability and integrity.
"TicketsNow is one of the most visited and trusted ticket resale websites
and offers fans an outstanding selection of premium event tickets," said
Cheryl Rosner, CEO of TicketsNow. "We have built our business by providing
great service and technology to the broker community and by ensuring the
quality of resellers in our marketplace. Combining with Ticketmaster will
enable us to offer our partners a more compelling marketplace and provide even
higher levels of service and security to fans of live entertainment."
The acquisition is subject to customary regulatory review, and
Ticketmaster expects the transaction to close by the end of the first quarter.
Upon closing, 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.
About Ticketmaster
Ticketmaster is the world's leading ticketing company, operating in 20
global markets, providing ticket sales, ticket resale services, marketing and
distribution through http://www.ticketmaster.com, one of the largest
e-commerce sites on the Internet; approximately 6,500 retail outlets; and 20
worldwide call centers. Ticketmaster celebrated its 30th anniversary in 2006
and currently serves more than 9,000 clients worldwide across multiple event
categories, providing exclusive ticketing services for hundreds of leading
arenas, stadiums, performing arts venues, museums, and theaters. In 2006, the
company sold more than 128 million tickets valued at over $7 billion on behalf
of its clients. Ticketmaster is headquartered in West Hollywood, California
and is an operating business of IAC (NASDAQ: IACI).
About TicketsNow
TicketsNow is the leading, independent online marketplace for event
tickets where buyers and sellers meet in open exchange. TicketsNow provides
consumers access to event tickets that are often unavailable through primary
distribution channels. Tickets listed on TicketsNow are owned and supplied by
more than 800 professional ticket resellers across the country that have been
vetted in advance by TicketsNow to ensure their reliability. Their combined
inventories are represented on the TicketsNow site and TicketsNow serves as
the transaction facilitator.
SOURCE Ticketmaster

Victoria Rangel of Burson-Marsteller, +1-310-309-6623, for Ticketmaster