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DEAG in advanced talks over latest acquisition

Deutsche Entertainment AG (DEAG) revealed it is currently in the final phase of negotiations on acquiring yet another ticketing company as it charges ahead with its ambitious buy-and-build strategy.

The Berlin-based firm did not reveal which company it is in talks with, but so far this year has already acquired MyTicket.de, MEWES Entertainment, I-Motion, C2 Concerts and LMP, among others.

DEAG’s preliminary figures for the first nine months show that group sales have fallen to €123.1m year-on-year during the period from €152.9 the year before.

Operating costs for the first nine months were €8m, compared to an adjusted figure of €5.1m in the same period of the previous year, though the firm said the earnings were “fully in line with expectations.”

The fourth quarter is predicted to be DEAG’s most prolific in its history due to the high density of events and intensive pre-sales for events to be held in 2020, a significant share of which were sold via DEAG’s own ticketing platforms, leading to record results for MyTicket.de and MyTicket.co.uk in 2019.

In Q3 sales were up by 70 per cent from €43.8m to €59.2m.

DEAG said in a statement: “This year, the focus of sales is on the second half of the year as planned and on the fourth quarter, in particular. This is characterised by the many sold out events in all divisions and by the Christmas business that includes national and international Christmas events. Accordingly, DEAG expects the fourth quarter of 2019 to be one of the strongest quarters in the company’s history.”

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