Galaxy, AEG Announce StubHub Center Upgrades NBA Formally Opens Replay Center MLG Opening Columbus Arena Cubs See Progress In Talks With Rooftop Owners New Vegas Arena Set For Groundbreaking NFL Panthers Battling Wi-Fi Issues Palm Beach OKs Funds For Spring Training Site CFP, Cowboys Playoffs Could Conflict World Series Balllparks Offering Apple Pay Facility Notes
Upcoming Conferences and Events
SBD/November 12, 2012/Facilities
AEG Inks Deal With eBay To Sell Secondary Tickets Exclusively Through StubHub
Published November 12, 2012
WANT MORE GREAT STORIES LIKE THIS?
CLICK ON ONE OF THESE BUTTONS
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).