makesumgravy
15 years ago
Ticketmaster and Priceline.com Announce Exclusive New Travel Partnership
Ticketmaster, a Ticketmaster Entertainment, Inc., (NASDAQ:TKTM) operating business, and priceline.com (NASDAQ: PCLN) today announced a partnership that establishes priceline.com as the ‘Official Travel Partner’ of Ticketmaster.com. Under the terms of the new alliance, fans using Ticketmaster.com will gain access to priceline.com’s suite of travel services, including specially tailored hotel, airline, and rental car offers to accompany their live event ticket purchases.
Beginning this month, the integrated new digital platform will provide convenient links and offers to priceline.com’s global array of published-price and Name Your Own Price® hotel rooms, rental cars and airline tickets to the millions of live entertainment fans using Ticketmaster.com.
“Roughly 20-30 percent of tickets purchased on Ticketmaster.com are for events outside of the fan’s home market so providing a convenient conduit to affordable travel information and solutions will bring a tremendous new convenience that will enhance the entire event experience,“ said Eric Korman, President of Ticketmaster.
“We are very excited to partner with Ticketmaster and offer their customers our complete suite of travel services,” said Paul Hennessy, priceline.com’s Chief Distribution Officer. “On many levels, priceline.com is ideally suited to fulfill the global travel needs of event goers. For those who need specific travel arrangements or travel brands, priceline.com offers published-price travel services with comparison charts, maps, city attractions and hotel and restaurant reviews from other priceline.com customers and Zagat Survey, LLC. Travelers on a budget can save big by using priceline.com’s Name Your Own Price® travel services. And, as always, priceline.com delivers top quality travel services.”
“We are thrilled to welcome priceline.com to our growing network of premier ‘beyond the ticket’ brands as our official sponsor in the travel category,” said Greg Consiglio, Ticketmaster Senior Vice President of Business Development. “In securing this strategic business alliance with priceline.com, we’ve further demonstrated Ticketmaster’s ability to leverage our leading and established online consumer ticketing and event information platform to drive marketing programs for strategic partners.”
Terms of the deal were not disclosed.
About Ticketmaster Entertainment, Inc.
Ticketmaster Entertainment consists of Ticketmaster and Front Line Management Group. As the world’s leading live entertainment ticketing and marketing company, Ticketmaster connects the world to live entertainment. Ticketmaster operates in 20 global markets, providing ticket sales, ticket resale services, marketing and distribution through www.ticketmaster.com, one of the largest e-commerce sites on the Internet; approximately 7,100 retail outlets; and 17 worldwide call centers. Established in 1976, Ticketmaster serves more than 10,000 clients worldwide across multiple event categories, providing exclusive ticketing services for leading arenas, stadiums, professional sports franchises and leagues, college sports teams, performing arts venues, museums, and theaters. In 2008, the Company sold more than 141 million tickets valued at over $8.9 billion on behalf of its clients. Ticketmaster Entertainment acquired a controlling interest in Front Line Management Group in October 2008. Founded by Irving Azoff and Howard Kaufman in 2004, Front Line Management Group is the world’s leading artist management company. Ticketmaster Entertainment, Inc. is headquartered in West Hollywood, California (NASDAQ:TKTM).
About Priceline.com® Incorporated
Priceline.com Incorporated (Nasdaq: PCLN) www.priceline.com provides online travel services in 28 languages in over 78 countries in Europe, North America, Asia, the Middle East and Africa. Included in the priceline.com family of companies is Booking.com, a leading international online hotel reservation service, priceline.com, a leading U.S. online travel service for value-conscious leisure travelers, and Agoda.com, an Asian online hotel reservation service. Priceline.com believes that Booking.com is Europe’s largest and fastest growing hotel reservation service, with a network of affiliated Web sites. Booking.com operates in over 70 countries in 22 languages and offers its customers access to over 66,000 participating hotels worldwide.
In the U.S., priceline.com gives customers more ways to save on their airline tickets, hotel rooms, rental cars, vacation packages and cruises than any other Internet travel service. In addition to getting great published prices, leisure travelers can narrow their searches using priceline.com’s TripFilter advanced search technology, customize their search activity through priceline.com’s Inside Track features, create packages to save even more money, and take advantage of priceline.com’s famous Name Your Own Price® service, which can deliver the lowest prices available. Priceline.com operates the following travel websites: Travelweb.com, Lowestfare.com, RentalCars.com and BreezeNet.com. Priceline.com also licenses its business model to independent licensees.
makesumgravy
15 years ago
TicketsNow Launches 'Fans Up Front' Resale Transparency Initiative
'Fans Up Front' to Redefine Live Event Ticket Resale for Summer's Hottest Tours
ROLLING MEADOWS, Ill., June 16 /PRNewswire/ -- In a move designed to lead change and reshape the live event ticket resale industry, TicketsNow, a Ticketmaster Entertainment (NASDAQ:TKTM) company, today launched its "Fans Up Front" resale transparency initiative. "Fans Up Front" is the first in a series of fan-focused enhancements that will provide fans of live events with an array of new features designed to provide unmatched insights and visibility into resale ticket purchasing.
"We have heard loud and clear from fans that the resale purchase experience is too confusing. With 'Fans Up Front,' we are putting the fans first and making it our goal to bring meaningful positive change to the resale industry," said Eric Korman, President of Ticketmaster, parent company of TicketsNow. "'Fans Up Front' represents the first in a series of efforts planned to improve the buying experience."
"Since our acquisition by Ticketmaster last year, we've been working on our long-term strategy to evolve the resale ticket buying experience, based on what customers are telling us they would like to see," said Shawn Freeman, President of TicketsNow. "'Fans Up Front' is the beginning of this exciting effort."
TicketsNow today is launching two new product offerings as part of "Fans Up Front" to provide ticket pricing and availability information for select major concert series this summer. The new "Fans Up Front" features include:
-- Total Price Transparency - TicketsNow will display the original ticket price ("face value") in addition to resale market prices.
-- Know Before You Buy - TicketsNow lets consumers know whether original price seats are still available on Ticketmaster and provides a direct link.
Additionally, TicketsNow is pleased to continue to provide the following industry-leading features across every event available for sale on their site:
-- Only Available Tickets - TicketsNow is the first resale marketplace to prohibit the listing of tickets before their official sale to the public.
-- Fraud Protection - TicketsNow continues its unconditional 100% guarantee that tickets are authentic and will arrive on time for your event or your money back.
-- Access Every Option - TicketsNow tells consumers how many tickets are available and across what price range so they can choose from all available options.
TicketsNow is also pleased to be able to offer Ticketmaster's TicketFast(R) electronic ticket validation and delivery technology on select tickets, where fans not only have access to convenient and fast electronic delivery of their purchases, but their tickets are also validated and authentically transferred to the new buyer.
The new "Fans Up Front" features will initially be available for select performances on some of the top summer tours. Over the course of the year, and with learnings and feedback from fans, TicketsNow expects to extend the availability of "Fans Up Front" features to an increasing number of live events as well as implement additional enhancements.
"As we get into the busy summer concert season, it's an ideal time to launch this effort and provide fans with an enhanced experience and a new level of transparency," Freeman continued. "It is our sincere hope that others in the industry will follow our lead to reshape the resale ticketing industry into a more transparent experience for everyone."
makesumgravy
15 years ago
Ticket Service Nederland, Paradiso and Melkweg Announce Multi-Year Ticketing Extension
AMSTERDAM, June 15 /PRNewswire-FirstCall/ -- Ticket Service Nederland, a Ticketmaster Entertainment, Inc., (NASDAQ:TKTM) operating business, Paradiso corporation and Melkweg corporation today announced a multi-year extension of their more than decade-long ticketing partnership. The agreement extends Ticketmaster's exclusive ticketing for Paradiso and Melkweg (Milkyway) for all Events taking place in these Music Venues. Both multi-purpose Venues are situated in the very centre of Amsterdam and are renowned worldwide for their ambiance supplying the ultimate live Music experience for over 1.000.000 enthusiastic visitors yearly.
Ticketmaster will continue to provide the latest ticketing technology and build upon its seamlessly integrated event ticketing distribution solutions, including: on-site scanning technology to validate bar-coded event tickets; online and offline event marketing and communication tools; and a multitude of new services to help drive ticket sales and enhance the overall entertainment experience for fans.
"The partnership of Ticket Service and Paradiso has been proven state of the art ticketing by physical distribution for a long time. This new step will innovate our e-ticketing strategy to the same level and create the ideal combination of both hard-copy and e-ticketing" said, Pierre Ballings, Director Paradiso.
"Melkweg is glad to be able to renew the relationship with Ticket Service, combining their proven technology with a versatile choice for the public at a competitive cost level" said, Cor Schlosser, Director Melkweg
"We are proud to be the preferred partner of Paradiso and Melkweg for more than 13 years now, still investing in deepening our relationship to Sell More Tickets Better" said, Peter van Ruijven, Sr. General Manager, Ticket Service Nederland.
makesumgravy
15 years ago
Sector Snap: Concert companies jump on upbeat note
Concert promoters, ticket sellers advance after analyst says ticket sales remain strong
Thursday April 16, 2009, 3:54 pm EDT
Buzz up! Print Related:Live Nation, Inc., Ticketmaster Entertainment, Inc., Warner Music Group Corp.
NEW YORK (AP) -- Concert ticket sales are holding strong despite the weak economy, an analyst said Thursday, boosting shares of concert companies.
Related Quotes
Symbol Price Change
LYV 3.95 +0.47
TKTM 5.30 +0.72
WMG 4.41 -0.21
Thomas Weisel Partners analyst Benjamin Mogil wrote in a note to clients that meetings with concert promoter Live Nation Inc. earlier in the week reinforced his view that the company is seeing strength in ticket sales across multiple music genres despite consumer discretionary spending.
Through February, the company kept up with last year's pace in terms of pricing and sales, Mogil said. He said he expects strong first-quarter results, which are to be released in May.
If the proposed merger with Ticketmaster Entertainment Inc. is not approved, Mogil said Live Nation's go-it-alone approach will continue to give it an edge in the industry.
Live Nation last year ended a long-term contract to sell its concert tickets through Ticketmaster, and it launched its own ticketing service for its venues in January.
That threatened to siphon off at least 15 percent of Ticketmaster's revenue and set the two companies up for a head-to-head fight for ticketing contracts. But in February, they announced they had agreed to lay down arms and join forces.
Mogil kept the target price for Live Nation at $8.50 and held an "Overweight" rating on the stock.
In late trading Thursday, Live Nation shares rose 41 cents, or 13.3 percent, to $3.49, while Ticketmaster stock rose 57 cents, or 14 percent, to $4.64. Shares of Warner Music Group Corp. gained 84 cents, or 21.4 percent, to $4.76.
makesumgravy
15 years ago
26 New Ticketmaster Retail Outlets Now Open At Homeland Stores Throughout Oklahoma
In Time for U2's General Public Ticket On-Sale Friday, April 17th At 10:00 AM CDT
Wednesday April 15, 2009, 3:30 pm EDT
Buzz up! Print Related:Ticketmaster Entertainment, Inc.
OKLAHOMA CITY, April 15, 2009 (GLOBE NEWSWIRE) -- Ticketmaster, a Ticketmaster Entertainment, Inc. (NasdaqGS:TKTM - News) operating business, and Homeland Stores, have teamed-up to open 26 new Ticketmaster retail outlet locations within Homeland Stores across Oklahoma. Beginning Friday, April 17th, with the general onsale for U2's upcoming concert at the Gaylord Family Oklahoma Memorial Stadium on Sunday, October 18th, fans will have several new and convenient locations to purchase their event tickets from.
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TKTM 4.07 +0.12
``By expanding our partnership with Homeland Stores, we're able to enhance the fan experience by making the ticket purchasing process more convenient for Oklahoma fans,' said Sandy Gaare, Executive Vice President, Retail Partnerships. ``With several new Retail Outlets in Homeland Stores throughout the state, fans of sports, music and other live entertainment events will now have greater access to purchase tickets and learn about new events coming to the area.'
The 26 new Homeland Stores in the Oklahoma City market will provide fans access to purchase events tickets for venues including the Ford Center, Gaylord Family Oklahoma Memorial Stadium, Cox Convention Center Arena, Allie P Reynolds Stadium and more.
``We are very pleased to be able to offer the communities we serve this additional convenience,' said Darryl Fitzgerald, CEO of Homeland. ``People are so busy, and are trying to do more things in one stop; this is one more way we can help our customers simplify their lives.'
Tickets can be purchased at Homeland stores 9:00am to 9:00pm, Ticketmaster.com, and Ticketmaster's Charge-By-Phone at 1-800-745-3000, as well as other local retail outlets in the area.
For a full list of retail outlets, visit: http://www.ticketmaster.com/h/stateselecttcenters.html?tm_link=tm_i_retail
26 New Homeland Ticketmaster Retail Outlets Throughout Oklahoma
Homeland #234 Homeland #238
7000 S. May Ave. Homeland #208 1151 N. Bryant Ave.
Oklahoma City, OK 2205 W. Edmond Rd Edmond, OK
73159 Edmond, OK 73034
73003
Homeland #122 Homeland #247
310 N. Washington St. Homeland #217 2410 Chandler Rd.
Weatherford, OK 7101 NW 23rd Muskogee, OK
73096 Bethany, OK 74402
73008
Homeland #127 Homeland #255
759 W. Grand Ave Homeland #101 1251 Alameda St.
Chickasha, OK 1100 W Main Norman, OK
73018 Norman, OK 73071
73069
Homeland #153 Homeland #267
1108 NW 18th Homeland #222 9225 N. May Ave.
Oklahoma City, OK 5857 NW Expressway Oklahoma City, OK
73106 Oklahoma City, OK 73120
73132
Homeland #154 Homeland #273
2016 NW 39th Homeland #567 10700 S. Pennsylvania
Oklahoma City, OK 3139 S. Harvard Oklahoma City, OK
73118 Tulsa, OK 73170
74135
Homeland #181 Homeland #778
12508 N. May Homeland #235 4001 S. 97th Highway
Oklahoma City, OK 7001 N. W. 122nd. Sand Springs, OK
73120 Oklahoma City, OK 74063
73142
Homeland #188 Homeland #886
220 E. Cleveland Homeland #236 24 E. 33rd
Guthrie, OK 2400 S. Cornwell Edmond, OK
73044 Yukon, OK 73013
73099
Homeland #195 Homeland #200
4301 S. May Homeland #237 1724 W. Lindsey Rd
Oklahoma City, OK 4129 S. E. 29th St. Norman, OK
73119 Oklahoma City, OK 73069
73115
Homeland #197 Homeland #219
11241 West Reno 2600 W. Robinson
Yukon, OK Norman, OK
73099 73069Homeland StoresHAC Inc. owns 50 Homeland Stores operating throughout Oklahoma and one in Haysville, KS.
As Oklahoma's largest locally owned grocery store chain they employ over 4,000 associates.
Since 2003 the company has experienced steady growth through improving their stores, and
acquisitions. The focus is on offering their customers a fresh alternative and STAR customer
service. Other services they offer include Western Union, payroll check cashing, lottery tickets,
and gift cards. HAC, Inc. is headquartered in Oklahoma City, OK.
About Ticketmaster Entertainment, Inc.
Ticketmaster Entertainment consists of Ticketmaster and Front Line Management Group. As the
world's leading live entertainment ticketing and marketing company, Ticketmaster connects the
world to live entertainment. Ticketmaster operates 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 7,100 retail outlets; and 17 worldwide
call centers. Established in 1976, Ticketmaster serves more than 10,000 clients worldwide across
multiple event categories, providing exclusive ticketing services for leading arenas, stadiums,
professional sports franchises and leagues, college sports teams, performing arts venues, museums,
and theaters. In 2008, the Company sold more than 141 million tickets valued at over $8.9 billion
on behalf of its clients. Ticketmaster Entertainment acquired a controlling interest in Front Line
Management Group in October 2008. Founded by Irving Azoff and Howard Kaufman in 2004, Front Line
Management Group is the world's leading artist management company. Ticketmaster Entertainment, Inc.
is headquartered in West Hollywood, California (NasdaqGS:TKTM - News).
CONTACT: Homeland Stores Marc Orlich +1-405-290-3425
morlich@hacretail.com
Ticketmaster Entertainment
Media
+1-310-360-2434
media@ticketmaster.com
Investor Relations
+1-310-360-2354
ir@ticketmaster.com
makesumgravy
15 years ago
Ticketmaster for BlackBerry Smartphones Goes Live; Download Available On Blackberry App World
New Mobile Technology Allows Fans to Browse and Purchase Tickets From Ticketmaster Anytime, Anywhere
Wednesday April 8, 2009, 7:20 pm EDT
Buzz up! Print Related:Ticketmaster Entertainment, Inc.
WEST HOLLYWOOD, Calif., April 8, 2009 (GLOBE NEWSWIRE) -- Ticketmaster, a Ticketmaster Entertainment, Inc., (NasdaqGS:TKTM - News) operating business today announced that the Ticketmaster for BlackBerry smartphones application for BlackBerry(r) smartphones is now live and available as a free download on BlackBerry App World(tm). The application provides fans with convenient 'on the go' access to easily browse and search through 1000's of live entertainment events and purchase tickets directly from their BlackBerry(r) smartphones from Research In Motion (RIM) (NasdaqGS:RIMM - News) (Toronto:RIM.TO - News).
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Symbol Price Change
TKTM 4.07 +0.12
How to get the Ticketmaster application for BlackBerry smartphones:
-- Download BlackBerry App World (http://www.blackberry.com/appworld) using
your BlackBerry(r) Browser. Ticketmaster is a featured application,
on the front page carousel, on BlackBerry App World, which you can
click on to download the application
-- Alternatively, visit http://www.ticketmaster.com/blackberry from your PC,
enter your email address, and download the application from the
link emailed to your BlackBerry smartphone
``We are always seeking new ways to make the ticket-buying experience more convenient and accessible,' said Eric Korman, Ticketmaster's President. ``Working with RIM, we're able to provide best in class mobile technology, secure commerce and the ease of navigation that is so familiar to BlackBerry smartphone consumers.'
Launching in the U.S. and Canada, with the U.K. soon to follow, Ticketmaster for BlackBerry smartphones features a streamlined interface of Ticketmaster.com, providing users with an optimized mobile browsing experience. The application gives fans event ticket purchasing capabilities for primary market sales and the ability to securely purchase tickets using their stored ``My Ticketmaster' account billing. In addition, users will soon be able to receive mobile notification to advanced or reserved tickets as well as special events.
``Not unlike the phones, outlets and Web before, this is a new channel that Ticketmaster is deploying on behalf of our clients that allows fans to search and buy tickets from their BlackBerry smartphones,' said Greg Consiglio, Ticketmaster's Senior Vice President, Business Development. ``The RIM relationship is a big picture strategy that marks Ticketmaster's first end-to-end mobile e-commerce solution for smartphone-based ticket purchasing in North America and establishes BlackBerry as the Official Smartphone of Ticketmaster.'
Related Links:
RIM Launches BlackBerry App World
http://press.rim.com/release.jsp?id=2223
BlackBerry on Ticketmaster
http://www.ticketmaster.com/blackberry
BlackBerry on Ticketmaster - Media Image Download
http://mediacenter.ticketmaster.com/Extranet/common/uploadedImages/PressRoom/Press_Releases/TM_Blackberry.jpg
About Ticketmaster Entertainment, Inc.
Ticketmaster Entertainment consists of Ticketmaster and Front Line Management Group. As the world's leading live entertainment ticketing and marketing company, Ticketmaster connects the world to live entertainment. Ticketmaster operates 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 7,100 retail outlets; and 17 worldwide call centers. Established in 1976, Ticketmaster serves more than 10,000 clients worldwide across multiple event categories, providing exclusive ticketing services for leading arenas, stadiums, professional sports franchises and leagues, college sports teams, performing arts venues, museums, and theaters. In 2008, the Company sold more than 141 million tickets valued at over $8.9 billion on behalf of its clients. Ticketmaster Entertainment acquired a controlling interest in Front Line Management Group in October 2008. Founded by Irving Azoff and Howard Kaufman in 2004, Front Line Management Group is the world's leading artist management company. Ticketmaster Entertainment, Inc. is headquartered in West Hollywood, California (NasdaqGS:TKTM - News).
makesumgravy
15 years ago
APRIL 6, 2009 Schumer Plans Legislation to Curb Ticket Resales Article
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By ETHAN SMITH
In the latest move in his battle with Ticketmaster Entertainment Inc., New York Sen. Charles Schumer unveiled plans for legislation that would ban the resale of concert and sports tickets until two days after they first go on sale to the public.
The waiting-period legislation is partly a response to complaints from Bruce Springsteen fans who in February tried to buy concert tickets on Ticketmaster's main Web site but were instead redirected to TicketsNow.com, a site owned by Ticketmaster where brokers resell tickets, often for many times face value. Fans were particularly outraged that Ticketmaster's computers steered them to the higher-priced aftermarket even before the concerts were fully sold out.
Charles Schumer
The bill, which Mr. Schumer plans to introduce Monday, wouldn't outlaw the resale of tickets entirely, but would prohibit situations in which tickets are listed for resale at jacked-up prices on sites like eBay Inc.'s StubHub.com during -- or even before -- the initial sale. After the Springsteen debacle, TicketsNow banned such "prelistings" on its site.
"Buying concert tickets has become like taking a trip back to the Wild West -- anything goes," Mr. Schumer said in a statement Sunday. He accused resellers of "hoarding" tickets and quickly driving up prices. "Any attempt to keep prices down by the sellers and artists is made impossible." He called his proposal an attempt to create "a fair system" to give fans a chance to obtain good seats for their face value.
The action comes against the backdrop of Ticketmaster's proposed acquisition by Live Nation Inc., the world's largest concert promoter. That deal would create a live-music powerhouse and is subject to regulatory review by the Justice Department.
In a sign of possible d[eacute]tente between Mr. Schumer and the ticketing giant, Ticketmaster Chief Executive Irving Azoff endorsed the legislation in a statement Sunday, calling it a "thoughtful proposal."
The announcement represented a marked shift in the tone of the dialogue between Mr. Schumer and Ticketmaster executives, who had traded increasingly pointed barbs in the past two months.
Mr. Schumer sharply criticized Ticketmaster in the wake of the Springsteen episode, and questioned Mr. Azoff during Senate subcommittee hearings on the merger in February.
Last month, Ticketmaster Chairman Barry Diller fired back during a conference call with analysts, accusing Mr. Schumer of engaging in "always-to-be-expected shameless grandstanding."
Write to Ethan Smith at ethan.smith@wsj.com
makesumgravy
15 years ago
Ticketmaster subpoenaed over resale of concert tickets: WSJ
By Wallace Witkowski
Last update: 5:52 p.m. EDT April 3, 2009Comments: 5
SAN FRANCISCO (MarketWatch) -- Ticketmaster Entertainment Inc. (TKTM:Ticketmaster Entertainment Inc
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TKTM 4.07, +0.12, +3.0%) received subpoenas from four government agencies concerning the resale of concert tickets, The Wall Street Journal reported late Friday on it Web site. Agencies include the U.S. Justice Department, the U.S. Federal Trade Commission, the New Jersey Attorney General and the Canadian Competition Bureau. The Journal reported it is unclear whether there is any relation between the subpoenas and the Justice Department's review of Ticketmaster's proposed merger with concert promoter Live Nation Inc. (LYV:live nation inc com
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makesumgravy
15 years ago
Ticketmaster Entertainment Announces It is Temporarily in Non-Compliance With NASDAQ Marketplace Rule 4350 Following the Resignation of a Board Member
Thursday April 2, 2009, 8:15 pm EDT
Buzz up! Print Related:Ticketmaster Entertainment, Inc.
WEST HOLLYWOOD, Calif., April 2, 2009 (GLOBE NEWSWIRE) -- Ticketmaster Entertainment, Inc. (``Ticketmaster'') (NasdaqGS:TKTM - News) announced today that it received a letter from The NASDAQ Stock Market notifying the company that it no longer complies with NASDAQ's audit committee requirements as set forth in Marketplace Rule 4350(d)(2), which requires Ticketmaster to have an audit committee composed of at least three ``independent directors'' (as defined in NASDAQ Marketplace Rule 4200(a)(15)). Following the resignation of Julius Genachowski from Ticketmaster's Board of Directors on March 12, 2009, Ticketmaster was left with only two independent directors serving on its audit committee.
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TKTM 4.07 +0.12
NASDAQ Marketplace Rule 4350(d)(4) provides a cure period for Ticketmaster to regain compliance with NASDAQ's audit committee composition requirements. This cure period will run through the earlier of Ticketmaster's next annual meeting of shareholders or March 12, 2010, or, if Ticketmaster's next annual meeting of shareholders is held before September 8, 2009, through September 8, 2009.
During the cure period, Ticketmaster common stock will continue to trade on NASDAQ, subject to Ticketmaster 's continued compliance with other NASDAQ listing requirements. Ticketmaster is currently addressing the need for a third audit committee member and expects to regain compliance with NASDAQ's audit committee composition requirements within the cure period.
makesumgravy
15 years ago
Ticketmaster Entertainment Partners With Ovations Management Solutions
Partnership Provides a More Friendly and Easy-to-Use Application for Managing Corporate Clients' Ticket Inventory
Thursday April 2, 2009, 9:00 am EDT
Buzz up! Print Related:Ticketmaster Entertainment, Inc.
WEST HOLLYWOOD, Calif. and ATLANTA, April 2, 2009 (GLOBE NEWSWIRE) -- Ticketmaster, a Ticketmaster Entertainment, Inc., (NasdaqGS:TKTM - News) operating business, and Ovations Management Solutions (Ovations), the leader in corporate ticket management, today announced an exclusive North American partnership that provides a more friendly and easy-to-use application for managing corporate clients' ticket inventory. With this new partnership, Ovations' corporate clients will gain direct access to Ticketmaster's full range of entertainment categories -- including concerts, professional sports, college sports, theatre, performing arts, and other live exhibitions -- via direct links on Ovations' customized platform.
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TKTM 4.07 +0.12
Ticketmaster will be the exclusive provider of tickets within Ovation's innovative corporate ticket management software solution. Ovations' clients will be able to access, browse, and purchase tickets to the hottest shows, games, and exhibits available on Ticketmaster.com.
``Effectively managing corporate assets and client entertainment costs is increasingly important to organizations -- especially in this economic environment,'' said Enoch Prow, chief executive at Ovations. ``With Ovations partnership with Ticketmaster, our clients will benefit with enhanced one-stop ticket management capabilities, as well as increased efficiency in terms of time savings, compliance reporting, and automated data collection.''
``Ticketmaster's partnership with Ovations gives our corporate clients the ability to more effectively manage their in-house ticket inventory,'' said Greg Consiglio, Ticketmaster's Senior Vice President, Business Development. ``Ticketmaster and Ovations will be providing the business community the ideal solution for access to tickets as well as management, tracking and reporting.''
Ticketmaster's corporate clients also will benefit from this new partnership. They will have access to Ovations' comprehensive online ticket management tool providing increased accountability of ticket inventory.
Ovations developed a well-received on-line environment that is now used by more than 15 major corporations, including Ticketmaster. Ovations is the leader in the corporate ticket management space with major clients across multiple industries, including: Communications; Entertainment; Financial; Food and Beverage; and Technology.
Additional terms of the agreement were not disclosed.
About Ovations Management Solutions (Ovations)
Ovations Management Solutions is the leader in technology based corporate entertainment ticket and asset management. Through the integrated solution of an ASP and world class industry experts, Ovations pioneered a one channel solution for clients to manage, track and report on spend and use of those assets and tickets. Founded in 2001, Ovations serves Fortune 500 companies across multiple industries, including Communications, Entertainment, Financial, Food and Beverage, and Technology. Ovations' clients are worldwide and use the Ovations solution to manage professional sports, college sports, performing arts, theatre, theme parks and airline assets, just to name a few. Ovations is headquartered in Atlanta, Georgia. For more information, visit ovationsmanagement.com.
About Ticketmaster Entertainment, Inc.
Ticketmaster Entertainment consists of Ticketmaster and Front Line Management Group. As the world's leading live entertainment ticketing and marketing company, Ticketmaster connects the world to live entertainment. Ticketmaster operates 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 7,100 retail outlets; and 17 worldwide call centers. Established in 1976, Ticketmaster serves more than 10,000 clients worldwide across multiple event categories, providing exclusive ticketing services for leading arenas, stadiums, professional sports franchises and leagues, college sports teams, performing arts venues, museums, and theaters. In 2008, the Company sold more than 141 million tickets valued at over $8.9 billion on behalf of its clients. Ticketmaster Entertainment acquired a controlling interest in Front Line Management Group in October 2008. Founded by Irving Azoff and Howard Kaufman in 2004, Front Line Management Group is the world's leading artist management company. Ticketmaster Entertainment, Inc. is headquartered in West Hollywood, California (NasdaqGS:TKTM - News).
Contact:
Ovations Management Solutions
Public Relations
Beryl Mokros
+1-404-817-6684 x. 226
bmokros@ovationsmanagement.com
Ticketmaster Entertainment
Media
Hannah Kampf
+1-310-360-2602
Hannah.Kampf@Ticketmaster.com
Investor Relations
+1-310-360-2354
ir@ticketmaster.com
makesumgravy
15 years ago
Standard & Poor's cuts Ticketmaster rating
Standard & Poor's downgrades Ticketmaster rating 1 notch into junk status on weak 4th quarter
Tuesday March 24, 2009, 6:41 pm EDT
Buzz up! Print Related:Live Nation, Inc., Ticketmaster Entertainment, Inc.
NEW YORK (AP) -- Standard & Poor's Rating Services on Tuesday lowered the corporate credit rating on Ticketmaster Entertainment Inc. one level further into junk status because of its weak fourth-quarter performance.
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LYV 3.08 +0.18
TKTM 4.07 +0.12
The ratings agency had put Ticketmaster on CreditWatch with a view to downgrade last month after it announced it planned an all-stock merger with concert promoter Live Nation Inc.
It cut the company's rating to BB from BB+ and kept it on CreditWatch with negative implications.
Live Nation's corporate credit rating, already three notches lower at B, was unchanged but remained on CreditWatch with a view to an upgrade.
As of Dec. 31, Ticketmaster had total debt of $865 million and Live Nation had total debt of $886 million.
"The downgrade reflects Ticketmaster's weak fourth-quarter operating performance and rising debt leverage," said Standard & Poor's credit analyst Hal Diamond.
He added that growth in the ticket resale business will not likely be able to overcome a decline in primary ticket sales volume because of the recession.
He also warned that Ticketmaster may pull back from the secondary ticketing market, which has gotten it into hot water on concerts from Bruce Springsteen to Michael Jackson, "which would increase its dependence on the mature and cyclical primary ticket market."
Ticketmaster lost $1.07 billion in the fourth quarter, mostly due to a huge impairment charge to account for its falling share price.
Excluding charges, earnings fell 81 percent to $9.9 million, or 16 cents per share. Revenue grew 9 percent to $384 million, mainly due to acquisitions.
Analysts surveyed by Thomson Reuters had expected, on average, earnings of 29 cents per share on revenue of $378 million. Analyst estimates exclude one-time charges.
Shares in Ticketmaster rose a penny to close at $4 on Tuesday, while Live Nation shares fell 7 cents, or 2.4 percent, to $2.88.
makesumgravy
15 years ago
Ticketmaster loses $1B in 4Q on accounting charge
Ticketmaster loses $1 billion in 4th quarter on huge write-down
Ryan Nakashima, AP Business Writer
Thursday March 19, 2009, 8:21 pm EDT
Buzz up! Print Related:IAC/InterActiveCorp., Live Nation, Inc., Ticketmaster Entertainment, Inc.
LOS ANGELES (AP) -- Ticketmaster Entertainment Inc. lost $1.07 billion in the fourth quarter, as the ticket-selling company that hopes to merge with concert promoter Live Nation Inc. had to take a huge impairment charge to account for its falling share price.
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IACI 16.30 -0.13
LYV 3.08 +0.18
TKTM 4.07 +0.12
After the company released the results Thursday, Chairman Barry Diller fought back against critics, again denying the company intentionally redirected Bruce Springsteen fans to its resale sites to charge premiums above face value.
Legions of angry fans have also complained about being shut out from concerts from Phish to Michael Jackson, but Diller said it was because thousands of tickets can be sold in seconds.
"Most fans can be disappointed within moments of the onsale regardless of how much we continually invest in customer service," Diller said. "Oddly, the better we sell tickets, the more unpopular we become."
The company expects to merge with Live Nation in the second half of the year pending an antitrust review by the Justice Department. It will seek shareholder approval this summer.
West Hollywood-based Ticketmaster said its loss amounted to $18.82 per share in the three months to Dec. 31.
The $1.1 billion goodwill write-down mostly reflected the decline in the company's stock price, which debuted at $20 when it spun off from IAC/InterActiveCorp in August. The shares closed Thursday down 3 cents at $4.09 before the earnings were announced.
Excluding charges, earnings fell 81 percent to $9.9 million, or 16 cents per share.
Revenue grew 9 percent to $384 million, mainly due to acquisitions.
Analysts surveyed by Thomson Reuters had expected, on average, earnings of 29 cents per share on revenue of $378 million.
"Last year was a year of transition for Ticketmaster Entertainment," said Irving Azoff, who became chief executive in October when Ticketmaster took a controlling interest in his talent management company, Front Line Management Group Inc.
"While I'm pleased that in the midst of an evolving music industry and a challenged consumer environment we were able to show substantial growth in free cash flow, we won't be satisfied until we transform the company," he said in a statement.
Free cash flow increased to $49 million from negative $15 million in the same period a year ago.
The number of tickets sold in the quarter decreased 9 percent to 35.1 million. And the gross value of the tickets sold fell 14 percent to $2.13 billion.
The company said the economy was partly to blame. Ticketmaster also cited the loss of a contract with Live Nation, which launched its own ticketing platform in January, and fewer big-name tours than in the same period a year earlier.
Its ticket resale business brought in revenue of $35 million, which analyst Brett Harriss of Gabelli & Co. said was strong in a tough economy.
"The fact that the resale business is improving is encouraging," he said.
Acquisitions that affected the results include Front Line, the resale sites TicketsNow and Get Me In!, and with primary ticketer Paciolan.
Front Line contributed about $46 million in revenue and $17 million in operating profit in the quarter.
The company offered no guidance for 2009.
For the full year, revenue grew 17 percent to $1.45 billion from $1.24 billion, but the company posted a net loss of $1.01 billion, or $17.84 per share, down from a net profit of $169 million, or $3.01 per share, a year earlier. Excluding impairments, the company's net profit fell 56 percent to $1.32.
The number of tickets sold in the year was 141.9 million, up slightly from 141.8 million in 2007.
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makesumgravy
15 years ago
Ticketmaster Entertainment, Inc. Reports Fourth Quarter and Fiscal Year 2008 Financial Results
Thursday March 19, 2009, 4:01 pm EDT
Buzz up! Print Related:Ticketmaster Entertainment, Inc.
Revenues in Fourth Quarter of $384.0 Million and Full Year of
$1,454.5 Million, Up 9.4% and 17.3%, Respectively, Versus
Prior Year Due Primarily to Strategic Acquisitions
Strong Free Cash Flow Growth for Quarter to $49.0 Million; Up More
Than $60 Million Over Prior Year, With $167.5 Million for 2008,
Up 81% for the Year
Acquired Controlling Interest in Front Line Management Group and
Entered Artist Services Business
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TKTM 4.07 +0.12
WEST HOLLYWOOD, Calif., March 19, 2009 (GLOBE NEWSWIRE) -- Ticketmaster Entertainment, Inc. (``Ticketmaster Entertainment' or the ``Company') (NasdaqGS:TKTM - News), the world's leading live entertainment ticketing and artist services company, today announced financial results for its fourth quarter and fiscal year ended December 31, 2008. Revenues for the quarter were $384.0 million, 9.4% higher than the prior year due to strategic acquisitions. Full year revenues were $1,454.5 million, or 17.3% greater than the prior year as a result of strategic acquisitions and higher average revenue per ticket. Fourth quarter Adjusted Operating Income was $58.7 million, a decrease of 28%, as a result of ticketing volume declines, severance costs associated with the previously announced cost reductions, and foreign exchange volatility. Full year Adjusted Operating Income was $257.7 million, 12.2% lower than the prior year, due to ticket volume declines and severance costs incurred in the latter part of 2008.
The Company's results also include a $1.1 billion non-cash, pre-tax impairment charge to goodwill, reflecting the decline in the Company's share price since its spin-off from IAC in August 2008 and the recent uncertainty of economic conditions.
``Last year was a year of transition for Ticketmaster Entertainment, as it became an independently-traded public company and entered the artist management business through the acquisition of a controlling interest in Front Line Management Group,' said Irving Azoff, Chief Executive Officer. ``While I'm pleased that in the midst of an evolving music industry and a challenged consumer environment we were able to show substantial growth in free cash flow, we won't be satisfied until we transform the Company into the world's most innovative live entertainment services, marketing and distribution organization, working harder on behalf of fans and the artists, athletes and performers.'
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