Ticketmaster to Mull Possible Buyout
Monday, August 5th 2002, 12:00 am
By: News On 6
LOS ANGELES (AP) _ Ticketmaster said Friday it had created a committee of directors to evaluate majority owner USA Interactive's possible offer to acquire the rest of the company.
On June 3, USA Interactive said it intended to commence an offer for Ticketmaster, Expedia and Hotels.com, in which it also holds majority stakes.
Shares in the companies rose on the news, and USA backtracked on June 5, saying it did not intend to begin the exchange in the near future.
Pasadena, Calif.-based Ticketmaster said the committee, formed June 4, is reviewing USA Interactive's announced intention but confirmed Friday that no offer had been made.