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Deals

March 08, 1994|JOHN LIPPMAN

Technology: In a move that may broaden its reach and better position it for the interactive future, Los Angeles-based Ticketmaster has purchased a 50% stake in Pacer/CATS, the London-based company that makes computerized ticketing systems for theaters and sports arenas in Britain, the United States and Europe. Ticketmaster has also entered into a joint venture with Pacer/CATS owner Wembley. The deal will allow Ticketmaster to provide greater access to movies and other events through its existing ticketing outlets and phone service. Ultimately, the system will also be used in connection with Ticketmaster's personal computer on-line service and in support of its merchandising efforts, said Chairman and Chief Executive Fred Rosen. Ticketmaster, which is the world's leading ticketing agency, was recently purchased by Microsoft co-founder Paul Allen. Allen has declined to discuss his plans for the company, but sources said he and Rosen hope to use Ticketmaster's technology for a variety of new interactive ventures. There is also talk of a Ticketmaster television channel. Under the agreement announced Monday, Ticketmaster will pay Wembley $16.4 million for the 50% stake in Pace/CATS. Ticketmaster has traditionally been strongest in the area of sports and music concerts.

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