Philadelphia-based sports and entertainment firm, Comcast-Spectacor, acquired Live Nation Entertainment’s Paciolan today. The terms of the deal were not disclosed.
The acquisition is a direct result of Ticketmaster’s merger with Live Nation. Under terms put out by the U.S. Department of Justice and accepted by the two parties, the new joint company — Live Nation Entertainment — agreed to sell Paciolan to Comcast or another suitable buyer.
Comcast-Spectacor’s acquisition of the customised ticketing service gives Comcast-Spectacor (which owns the NHL’s Philadelphia Flyers and the NBA’s Philadelphia 76ers), the opportunity to expand its stronghold on the sports entertainment industry even further.
From Comcast-Spectacor’s release:
By virtue of this latest acquisition, Comcast-Spectacor is poised to further extend its reach as a worldwide leader in sports and entertainment by managing public assembly facilities (through Global Spectrum), providing catering and providing food and beverage sales (through Ovations Food Services), selling naming rights and sponsorships (through Front Row marketing Services), and now, by owning a ticketing platform able to sell millions of tickets to events worldwide.
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