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Ticketmaster, in the process of being spun off as a separate company from parent Interactive Corp (NSDQ: IACI). has bought TicketsNow, the country’s second-largest site for reselling sports and concert tickets, for $265 million, reports WSJ. This means Ticketmaster will now compete head on with eBay-owned StubHub.
Ticketmaster CEO Sean Moriarty said the company plans to share revenues from its new division with clients that own venues or promote events, something which doesn’t happen with rival reseller services StubHub and Razorgator, where sites like Ticketmaster never earned a dime.