Connecticut-based TicketNetwork has acquired and licensed certain assets from embattled ticket resale outlet ScoreBig, including rights to operate ScoreBig.com. Financial terms were not disclosed, but TicketNetwork for now is running ScoreBig.com under its prior form as a discount sales channel that also includes a Priceline-style bidding component for buyers. TicketNetwork has not taken on any employees from California-based ScoreBig. The transfer of control occurred over the weekend.
TicketNetwork is not taking on responsibility for any ScoreBig debts or other responsibilities prior to Nov. 12. The transaction represents part of a larger process in which ScoreBig has filed a general assignment for the benefit of creditors. ScoreBig is facing multiple lawsuits for failing to pay brokers. TicketNetwork COO Mike Honeyman said, "Right now, we need to take the time to evaluate and understand the opportunity in front of us and figure out how best to deploy these assets. We’re not going into this with a lot of preconceived notions, but we were impressed by the quality of the platform that the prior ScoreBig team built."
