Rosen announces buy-back of remaining third of from U
Ticketmaster Group Inc. CEO Fredric Rosen announced Tuesday that his outfit has bought up the remaining third of Ticketmaster-Southeast from Universal Studios Inc., giving Ticketmaster full ownership of the regional ticketing company.
Rosen said the deal was made for $9.5 million — exactly the same amount Ticketmaster paid earlier this year for another third of Ticketmaster-Southeast previously owned by Time Warner Inc.
Ticketmaster-Southeast services Georgia, the Carolinas and selected cities in Alabama and Tennessee, selling an average of more than 4 million tickets per year.
The buyout by the main Ticketmaster host-company was the fourth this year, underlining Rosen’s commitment to own a larger share of its operations by the end of the millennium.
Rosen also announced the agreement between Ticketmaster and Universal giving the former an exclusive, five-year agreement to be the ticketing service for all Universal Amphitheatre and other Universal-sponsored concert activity.
In addition to the Amphitheatre in Universal City, the Universal venues covered in the deal are the Blossom Music Center in Cleveland, the Star-plex Amphitheatre in Dallas, the Lakewood Amphitheatre in Atlanta, the LB Day Amphitheatre in Portland, Ore., the Gorge Amphitheatre in suburban Seattle, and two Denver-area venues: The Paramount Theatre and the Fiddler’s Green Amphitheatre.