Overcharging Doesn't Pay: Ticketmaster Lose A Billion Dollars

03/20/2009
. (Billboard) Ticketmaster Entertainment, which in February announced plans to merge with Live Nation, has reported a net loss of $1.07 billion for the fourth quarter ended Dec. 31, 2008.

The loss is a result from the ticketing company taking an impairment charge to account for its falling share price since spinning off from IAC/InterActiveCorp last August. The $1.1 billion goodwill write-down reflected the decline in the company's stock price, which debuted at $20 when it spun off from IAC/InterActiveCorp.

Ticketmaster Entertainment shares closed today (March 19) down 3 cents at $4.09 before the earnings were announced. Free cash flow increased to $49 million from negative $15 million in the same period a year ago. - more on this story

Click here to read today's full report

Preview and Purchase Ticketmaster CDs

Ticketmaster MP3 Downloads

Day In Rock
Van Halen Solo Album Delayed By Pandemic- Eagles Concert Film To Receive Encore TV Broadcast- Anthrax and Lee Ving Do Quarantine Jam Of Fear Classic- Gerard Way- more

Reviews
Rock Reads: 'Run-Out Groove: Inside Capitol's 1980s Hits & Stiffs' by Dave Morrell

Singled Out: Joe Bouchard's Forget About Love

Psycle - Kill The Machine

Singled Out: Annie Stela's Weight Of Life

Singled Out: The Phoenix Within's Tenfold

advertisement

Latest News
Van Halen Solo Album Delayed By Pandemic

Eagles Concert Film To Receive Encore TV Broadcast

Anthrax and Lee Ving Do Quarantine Jam Of Fear Classic

My Chemical Romance's Gerard Way Releases New Song

Sammy Hagar Pays Tribute To Charlie Daniels

Grohl Tried To Be Respectful Of Nirvana With Foo Fighters Launch

Zac Brown Band Raised Over $1.4 Million With Charity Livestream

Singled Out: Joe Bouchard's Forget About Love