According to a report this week in the Australian Financial Review, a North American firm is considering purchasing TEG, the leading ticketing and live entertainment industry in the Asia Pacific market. TEG, which owns Ticketek and bills itself as “Asia Pacific’s leading Ticketing, Live Entertainment and Data Analytics business” is reportedly expected to fetch a deal worth in excess of $1 billion.
Silver Lake Partners is reportedly the interested party. Silver Lake also owns a stake in the U.S.-based Oak View Group, which is run by former AEG CEO Tim Leiweke and former Live Nation Entertainment chairman Irving Azoff, who also serves as chairman and CEO of Azoff MSG Entertainment. Oak View also owns Pollstar Magazine, Venues Now, and the yet-to-be-named NHL Seattle franchise.
That NHL Seattle organization has already made waves in the ticketing world, aggressively policing its season ticket member deposit list to remove any individuals it perceives as being potentially in it to act as a ticket broker rather than a “fan.” Some fans have been caught up in that net as well.
It is unclear whether there would be any intention on the part of Silver Lake to put together some kind of play at the North American ticketing market if such an acquisition were to be completed, or whether the TEG and Oak View businesses would remain entirely independent of one another. Silver Lake is “believed to be attracted to TEG as a data play, as well as for its assets,” according to the AFR.
In addition to Ticketek Australia and New Zealand, TEG owns TEG Live, Softix, Eventopedia and Sydney’s Qudos Arena. Recently, the company announced an expansion to the European market with the acquisition in August of UK-based promoter and venue operator MJR Group.
At the time of that acquisition, TEG CEO Geoff Jones commented that it marked “a significant step toward TEG becoming a global live entertainment powerhouse.”
A request for comment on the rumored sale emailed to a TEG media relations representative had not received a response as of early Friday afternoon. Any response received will be added to this story.