Secondary ticketing firm StubHub has been coming in for some criticism this month, from Live Nation and David Lowery alike.
Secondary ticketing firm StubHub wants to go public
The parent company, StubHub Holdings, is reportedly exploring going public via a Spotify-style direct listing.
Viagogo sells StubHub’s business outside North America
Viagogo has satisfied the CMA’s concerns by selling StubHub’s business outside North America to an investment company called Digital Fuel Capital.
Viagogo told to sell StubHub’s business outside North America
The UK’s Competition and Markets Authority (CMA) has issued its verdict on secondary ticketing firm Viagogo’s acquisition of rival StubHub. The regulator says Viagogo will have to sell StubHub’s business outside North […]
Viagogo could sell StubHub’s business outside North America
It’s not been smooth sailing for secondary ticketing firm Viagogo’s $4bn takeover of rival StubHub since it was announced in November 2019, thanks to regulatory investigations and Covid-19. Now Viagogo is […]
UK regulator offers new warning over Viagogo / StubHub merger
In the annals of unfortunately-timed business deals, Viagogo’s decision to buy rival secondary ticketing platform StubHub for $4bn a few months before a global pandemic shut down the live music industry will surely rank highly.
While the acquisition closed in February, an actual merger of the two companies has been on hold while regulators scrutinise it – particularly the UK’s Competition and Markets Authority (CMA).
Yesterday, it offered its latest view: a provisional finding that the merger will reduce competition.
“Viagogo and StubHub are close competitors in an already very concentrated market with no significant additional competitors. They are the only 2 companies of material size in the UK’s secondary ticketing market with a combined market share of more than 90%,” announced the CMA.
Viagogo and StubHub’s $4bn merger to face further review
What’s worse than agreeing to pay $4bn to buy a live-event ticketing company just before a global pandemic shuts down live events across the world? Having the planned merger held up due to regulatory investigations, that’s what.
Viagogo completed its acquisition of secondary ticketing rival StubHub in February this year, but the two companies aren’t allowed to integrate their businesses until they get the green light from UK regulator the Competition and Markets Authority (CMA).
Earlier this month, it raised fresh concerns that the deal could be bad for competition in the secondary ticketing market, and gave Viagogo five days to address those concerns, to avoid facing an in-depth ‘phase 2’ investigation. It seems it was not satisfied with the answers, and yesterday that investigation was announced, with its report due by 9 December.
That means Viagogo and StubHub must continue to ride out the Covid-19 pandemic as separate entities. “During this period, the StubHub and Viagogo brands and operations will continue to be held separate as agreed with the CMA,” StubHub’s spokesperson told Reuters.
UK regulator raises fresh concerns over Viagogo/StubHub merger
British regulator the Competition and Markets Authority (CMA) has been investigating the merger of secondary ticketing firms Viagogo and StubHub. Its latest update on the investigation isn’t good news for those companies. […]
StubHub president to leave as company announces more layoffs
Secondary ticketing company StubHub isn’t having a good 2020, by any stretch of the imagination. Not only has the live industry shut down in many countries, but the eBay subsidiary’s […]
StubHub faces class action lawsuit over coronavirus refunds
With a huge number of festivals and concerts postponed or cancelled entirely amid the coronavirus pandemic, event organisers and ticketing companies have been mulling their options. One solution is to […]
StubHub is offering credit, not refunds, for cancelled events in US and Canada
The next big controversy around secondary ticketing has arrived, and it concerns whether buyers will get refunds for events that have been cancelled due to the coronavirus pandemic.
If they bought through StubHub, the answer is now ‘no’ in the US and Canada – unless they were bought in areas where such refunds are legally required.
“We were the first in our industry to begin offering customers 120% credit for the canceled purchases as a thank you for remaining patient in a very challenging period,” wrote president Sukhinder Singh Cassidy in a post online.
StubHub furloughs staff due to coronavirus impact
StubHub has become one of the first ticketing firms to confirm plans to ‘furlough’ staff (the term means to put staff on mandatory leave, often unpaid – it’s not clear whether […]