Ticketmaster has agreed to buy ticket reseller Web site TicketsNow Inc. for a reported $265 million.
The move by West Hollywood-based Ticketmaster, a unit of IAC/InterActiveCorp that will be spun off into an independent company later this year, is a move to gain a stronger presence in the secondary ticket sales market.
Ticketmaster said Tuesday it planned to build a Web site that will allow customers to compare prices in the primary, premium and resale markets.
Financial terms were not disclosed, but a report in The Wall Street Journal said the deal was worth $265 million.
Ticketmaster is seeking new revenue after its top client, Beverly Hills-based concert promoter Live Nation Inc, said it will end its long-term ticketing agreement with Ticketmaster. Live Nation plans to start its own ticketing business in 2009.
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