Asian Firm Acquires Nine Live, Ticketek

Asian Equity Firm Acquires Nine Live, Ticketek Major Australian media company Nine Entertainment sold its live events companies Nine Live and Ticketek to Asian private equity firm Affinity Equity Partners for A$640 million ($493 million).

Affinity will honor all existing commercial arrangements, including a Ricky Martin tour this year, and a recently signed partnership with New Zealand radio and TV owner MediaWorks to jointly stage concerts and sporting events.

Nine’s CEO David Gyngell said the business grew sharply in recent years but the company wants to focus on its media and digital assets.