Legends to buy ASM Global
November’s blockbuster news saw Legends sign a definitive agreement to acquire ASM Global in a deal set to create the world’s biggest live events business. Legends said the transaction would allow it to “expand its geographic reach and range of services as it continues to innovate”. ASM Global runs around 350 arenas, stadiums and convention centres worldwide, including a dozen NFL American football and NBA basketball venues.
Live Nation in trouble in DC
Live Nation and Ticketmaster paid the price for “stonewalling” Congress as they were issued with a subpoena for documents regarding ticket pricing, fees and secondary sales. The subpoena came eight months after the Senate’s Permanent Subcommittee on Investigations first launched an inquiry into Live Nation over its business practices. Subcommittee chairman Senator Richard Blumenthal said: “Live Nation has egregiously stonewalled my Subcommittee’s inquiry into its abusive consumer practices – making the subpoena necessary.”
Lyte enters primary ticketing
Lyte announced its entry into the primary ticketing market though the launch of its end-to-end ticketing platform. Lyte Returnable Ticket integrates ‘returnability’ and fair market pricing into a simplified ticket buying experience, according to Lyte. The ticketing platform is powered by SmartPricing and SmartFulfillment, an e-commerce engine with the aim of beating ticket scalpers.
Plans unveiled for new Edinburgh arena
The AEG Europe division of sports and live entertainment company AEG unveiled plans to deliver Edinburgh’s first major indoor arena. Promoter and venue operator AEG Europe is seeking planning approval for an 8,500-capacity arena in the heart of Edinburgh Park. Parabola, developers and site owners of Edinburgh Park, has agreed to sell the site for the new venue to AEG.