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AEG Inks Deal With eBay To Sell Secondary Tickets Exclusively Through StubHub
Published November 12, 2012
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GOING GLOBAL: The WALL STREET JOURNAL’s Smith & Bensinger write the deal marks the “latest attempt by the live-event industry to capture the sky-high prices sometimes commanded by scalpers and other third parties.” AEG will “collect an unspecified share of revenue … on transactions originating on its websites” from StubHub’s commissions. AEG President of Digital, Ticketing & Media Bryan Perez said that it “remained to be determined whether AEG's revenue from StubHub sales would be considered part of a concert's gross, a sum that is often the primary basis for a concert performer's compensation.” Perez said, "That's something we're trying to figure out.” eBay President of Global Marketplaces Devin Wenig said, "Today, StubHub is largely a domestic U.S. business. This is a significant move to globalize StubHub." Smith & Bensinger note AEG and eBay “plan perhaps to buy startups together and to create new technologies” (WALL STREET JOURNAL, 11/12).
TICKET PRICE: In N.Y., Claire Atkinson reports AEG, which “put itself up for sale in September, is looking to fetch as much as $10 billion.” Sources said that Blackstone Group, which “handled the sale of the LA Dodgers earlier this year, is getting ready to release a sale book.” AEG so far has “only put out a ‘pictorial’ sales brochure.” Investment firm Colony Capital “has been floated as a potential bidder, with sources speculating the firm has backing from a Qatar sovereign wealth fund” (N.Y. POST, 11/12).