Two private equity firms that own more than 60% of AXS are reportedly considering selling their stake in the ticketing company.
TPG and Rockbridge Growth Equity are exploring strategic options according to the Wall Street Journal newspaper. According to sources close to the matter the two firms believe they could sell their holding for around $250m.
AXS is 38% owned by AEG, and this week replaced StubHub as the preferred resale site of the venue operator’s North American sites.
The Wall Street Journal reports that AEG, which is contractually guaranteed to be the operating partner of the company, is not interested in buying out the private-equity partners.
Speaking after the announcement of its partnership with AEG, AXS said it believes its partnership with the firm’s venues will make it easier for fans to access tickets for the shows they want to see.
“You never want to be in a situation where you have to turn away a fan because you don’t have something to sell them,” AXS chief executive Bryan Perez said.
Image: Martin Fisch