Pennsylvania’s decision to allow ticket scalping, becoming the latest state to allow the practice, topped the news in the ticketing industry for the week ended July 13.
The Keystone State’s Gov. Edward Rendell signed the bill on Friday, following the governors of Connecticut, New York and Minnesota who recently signed similar legislation.
Pennsylvania differs from other states in that it requires ticket resellers on the Internet have some kind of business presence in the state.
In other news, Live Nation announced it was planning to sell $200 million in convertible senior notes, which will be due in 2027. . .
The ticketing and concert promotions giant said it intended to use the capital raised in the sale for general business purposes and to repay debt. Live Nation was the 557th largest company in the U.S. in 2006, according to Fortune magazine, and it has a market capitalization of $1.41 billion.
The David Beckham watch began in earnest last week with the media-saturated arrival of the soccer superstar, his wife and kids to their new home in Los Angeles.
Tickets to games with his new team, L.A. Galaxy have been selling briskly for both home and away matches, but tickets were still available.