By: Staff Reports
Ticketmaster Online-Citysearch May Join Ticketmaster Corp.
(The Hollywood Reporter) – USA Networks Inc.’s 100%-owned subsidiary Ticketmaster Corp. and its 49.4%-owned affiliate Ticketmaster Online-Citysearch Inc. are considering merging their operations into a single entity or forming a wide-ranging joint venture, the companies confirmed Monday.
Ticketmaster Online said it is forming a committee of independent directors to consider a variety of possible transactions with Ticketmaster Corp.
A USA Networks executive said the Barry Diller-led company had no set agenda for the ticketing and e-commerce operations and would await recommendations of the committee before deciding which course to take. USA Networks said in June that it would restructure its commerce and Internet assets into one unit, USA Information and Services, which it said might be spun off as a separate public company.
In a statement to the Securities and Exchange Commission, Ticketmaster Online stressed there was no guarantee that any transaction would result from the committee’s deliberations.
Copyright 2000, Editor & Publisher.