Bidding war set to break out for ticketing merchant See Tickets
The owners of the O2 and the Hammersmith Apollo are preparing for a fierce battle to acquire See Tickets, one of the UK’s largest ticketing merchants. French media giant Vivendi has been attracting potential buyers for See Tickets and its events arm, with the deal estimated to value the company at over £250 million.
Anschutz Entertainment Group (AEG), the owner of the O2 Arena in London, and German ticketing group CTS Eventim, which co-owns the Hammersmith Apollo, are currently engaged in talks with Vivendi. See Tickets, which operates in eight European markets, had an impressive year, selling 39 million tickets to various events, including sports, museums, and concerts. The company also runs festivals across Europe, such as the renowned Love Supreme in East Sussex.
Vivendi, based in Paris, has confirmed that it has already received several highly encouraging offers. A sale to either AEG or Eventim would pose significant competition for Ticketmaster, which currently dominates the ticketing landscape on both sides of the Atlantic.
See Tickets began its journey as a ticket retailer in Nottingham, originating from the Way Ahead Records record shop. Later, it was acquired by Andrew Lloyd Webber’s Really Useful Group, who renamed it as See Tickets. In 2011, Vivendi then acquired the company for £82 million. Known for its stake in Universal Music, Vivendi has a strong presence in the music industry.
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