TM Secures TicketsNow Purchase

Ticketmaster has completed its previously announced acquisition of TicketsNow, putting TM squarely into the secondary ticketing market.

Ticketmaster, which has been in a "silent period" as required by the Securities & Exchange Commission, has not been able to explain how it will integrate TicketsNow into the TM system, but did release a statement as soon as the purchase was announced.

"The combination of Ticketmaster and TicketsNow will redefine the event ticket resale category," Ticketmaster CEO Sean Moriarty said. "We are going to provide fans more options and the most secure, reliable and convenient way to buy tickets to the events they want to attend at a price they are willing to pay."

TM says it will create an "integrated platform" where fans will be able to review and compare ticket availability and pricing in the primary and secondary categories. It added that the platform will be an addition to its existing TicketExchange system where buyers can resell their TM tickets.

"TicketsNow revolutionized the event ticket industry by providing great service and technology to the broker community and by ensuring the quality of resellers in our marketplace," TicketsNow CEO Cheryl Rosner said. "By combining with Ticketmaster, TicketsNow is able to offer our partners a greatly expanded market opportunity and provide fans even higher levels of service and security."