Ticketmaster Gets New Name

There’s a lot going on with internet ticketing giant Ticketmaster these
days. After recently cutting 300 jobs in an attempt to reduce operating
expenses, the company has since completed a deal for majority control
over talent agency Front Line Management Group. Ticketmaster purchased
its stake in Front Line for $123 million.

There’s a lot going on with internet ticketing giant Ticketmaster these days. After recently cutting 300 jobs in an attempt to reduce operating expenses, the company has since completed a deal for majority control over talent agency Front Line Management Group. Ticketmaster purchased its stake in Front Line for $123 million.

Prior to the transaction announced this past Friday, Ticketmaster owned 47 percent of Front Line, but wanted greater control of the company in order to better compete with Live Nation (who have already begun artist representation and plan to provide their own ticketing service in the coming months). By merging with Front Line, Ticketmaster will be able to venture outside of ticketing and will have a more comprehensive, vertically integrated hold on their market.

Following the deal, the Ticketmaster name changed to Ticketmaster Entertainment Inc., to better suit the company’s new, full circle approach to ticketing. Heading up Ticketmaster Entertainment Inc. will be Front Line Chief Executive Irving Azoff.

When asked about his goals for the new venture, Azoff seemed optimistic and adamant about Ticketmaster Entertainment Inc.’s goals. “The new name of the company is Ticketmaster Entertainment, and it’s a platform for us to build a lot of other things,” Azoff explained. “The fortunes of this company aren’t going to rise and fall just on the ticketing business. We’re going to build the ability for people to distribute their music.”