LN Buys Ticketnet

Live Nation Entertainment has acquired Ticketnet, France’s second-largest ticket-seller, complementing the company’s steady growth in the country’s live music sector.

Financial details were not released. Ticketnet managing director Francois Thominet will continue to run the company.

Live Nation chief Michael Rapino described the deal as “a significant acquisition” that will expand the company’s presence in “a euro 4 billion ticketing market that’s been growing 5 percent annually.”

The move also appears to complete the French version of the business model LN international chief exec Alan Ridgeway is trying to create throughout Europe, particularly in Germany, where he still needs a major promoter or two to provide the content for Ticketmaster.

He’s spent nearly a year transforming Live Nation’s Paris office, beginning in December 2009 with the recruitment of four promoters tempted away from some of his company’s main rivals.

In March Jackie Lombard departed, having apparently reached the end of a three-year contract, leaving the company to look for acts below the stadium level at which she’d specialised.

Having put the content providers in place, Ridgeway has now added a ticket retailer with sales of 6.6 million per year.

A staff of 100 run Ticketnet’s network of retail outlets covering France, Belgium and Luxembourg, and its various Internet platforms and call centres.