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Article: NZ Post sells off its ticket arm.(New Zealand, Red Ticket)
- Article from:
- ePostal News
- Article date:
- August 15, 2005
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The New Zealand Post is selling off the brand and some of the assets of its three-year-old Red Ticket ticket-selling operation to Ticketmaster, the big international ticketing company newly arrived on New Zealand's shores.
The acquisition is evidently why Ticketmaster, which also picked up two other local sites, moved into the country.
Under a separate agreement, New Zealand Post's PostShops will continue selling event tickets as part of Ticketmaster NZ Ltd's broader ticket distribution network in New Zealand.
Financial terms were not disclosed. It is unclear whether Red Ticket was profitable. The assets were described as "not significant."
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