The sale of ticketing service Paciolan to Comcast-Spectacor was completed Tuesday, fulfilling a major proviso for approval of the Live Nation Entertainment merger by the Department of Justice.
Ticketing and management company Ticketmaster, which formerly held Paciolan, and promoter/venue firm Live Nation wrapped their long-pending splicing as LNE in January. The DOJ had filed a civil action against the companies, which agreed to offload Paciolan to alleviate government anti-trust concerns.
LNE also agreed to license its ticketing software to competitor Anschutz Entertainment Group as part of the deal.
Paciolan will operate as a freestanding, wholly owned subsidiary of Comcast-Spectacor, separate from the firm’s New Era Tickets division; it will provide services to college athletic programs, performing arts organizations, arenas, pro sports teams and museums.
Comcast-Spectacor prexy Peter Luukko said in a statement, “This is a very exciting opportunity for our company as we continue to grow into a total entertainment provider of national and international scope. Paciolan technology is highly desired and has an outstanding reputation in the industry.”
The Philly-based firm is active in venue management, catering, naming rights and sponsorship via its other subsidiaries. It also owns hockey’s Philadelphia Flyers, basketball’s Philadelphia 76ers, two local arenas and four community ice rinks.