Ticketmaster was set Thursday to become a stand-alone publicly traded company, just as the dominant seller of tickets to concerts and sporting events is about to lose its biggest customer.
For five years, the West Hollywood-based company has been part of IAC/InterActiveCorp, owner of an assortment of Internet-based businesses. Under that umbrella, the subsidiary, which last year sold 141 million tickets valued at $8.3 billion, has done well.
Under a plan unveiled last year by IAC Chief Executive Barry Diller, the New York-based parent is spinning off Ticketmaster and three other units by distributing shares in the units to IAC stockholders.
- Read the full Los Angeles Times story.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Ticketmaster Debuts on Nasdaq
- 1977 Who Concert Takes Rocky Road to TV Screen
- Converging Forces Punch Ticketmaster
- Ticketmaster's Independent Path Points Overseas
- Ticketmaster's Triple Threat: AEG, eBay, StubHub Partner-Up
- Ticketmaster Pays $265 Million For Better Seat in Marketplace
- Ticketmaster May Acquire AEG Live
- Ticketmaster to be Spun off From IAC