Cox Interactive Media Makes $30 Million Strategic Investment in Tickets.com; Investment Aligns With CIMedia's E-commerce Strategy, Extends Tickets.com Brand.ATLANTA--(BUSINESS WIRE)--Aug. 17, 1999-- Cox Interactive Media (CIMedia) announced today a $30 million strategic investment and relationship with Tickets.com. CIMedia has invested $15 million and will invest an additional $15 million subject to regulatory approval which is expected within 30 days. This alliance means that Tickets.com will be the premier provider of event ticketing on the CIMedia city site network and create co-branded ticketing applications. In connection with the investment, Tickets.com announced a three year $13.5 million media buy throughout Cox Enterprises Cox Enterprises is the successor to the publishing company founded in Dayton, Ohio, by James Middleton Cox, who began with the Dayton Daily News. The company is private, 98% controlled by the octogenarian daughter of Cox, Anne Cox Chambers, and the two children of her late that will encompass the CIMedia network of city and specialty sites as well as relevant Cox media properties including newspapers, broadcasting and cable companies. The $30 million investment gives CIMedia exclusive rights among its competitors for ticket sales in the largest 65 markets in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and those markets currently served by CIMedia (see below for a list of major markets in the network). By serving as the local portal for Tickets.com, CIMedia will strengthen its e-commerce offerings and enhance its ability to save busy local consumers time and money. For Tickets.com, the $13.5 million media buy across relevant Cox media properties will extend its brand awareness and provide more points of distribution. In related news, Tickets.com also secured $55 million in financing from Excite@Home (Nasdaq:ATHM ATHM Excite@Home (NASDAQ symbol) ATHM Alternative Therapies in Health and Medicine ATHM American Textile History Museum (Lowell, MA) ). Convenient, one-stop online shopping for all local ticket and event needs "We're always looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. ways to help consumers manage their busy lives, and Tickets.com's event database is the most comprehensive ticket information resource available," said Peter Winter, president of CIMedia. "We are also impressed with the high-quality customer service provided to both consumers and entertainment organizations." In addition to selling tickets, Tickets.com provides consumers with an extensive listing of ticket and event information, serving as an unbiased information source for entertainment, sports and travel tickets. For example in the San Francisco Bay area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay alone, there are more than 3,000(a) events. Also, Tickets.com's person-to-person auction enables consumers to buy and sell tickets in an open marketplace. "Our new relationship with CIMedia gives us access to highly-targeted CIMedia city site consumers, and offers us extensive brand-building opportunities with other Cox media properties," said W. Thomas Gimple, president and chief executive officer of Tickets.com. "The Tickets.com brand and product offerings attract a highly desirable `ready-to-buy' audience and help CIMedia capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the efficiencies and growth of Internet ticketing." CIMedia will deeply integrate event, venue and ticketing information and ticket buying opportunities into its Entertainment channel across its network of local city sites, enhancing the channel and adding to its dynamic local search database. The Entertainment channel also features event calendars; guides to movies, music, dining, attractions, television and horoscopes; reviews of restaurants, movies and videos; entertainment headlines; chat forums; online games; and links to the best local entertainment Internet sites. About Cox Interactive Media The Cox Interactive Media network (www.cimedia.com) includes 27 city sites and two specialty sites, BlackFamilies.com and GreatOutdoors.com. CIMedia, founded in 1996, is a subsidiary of Cox Enterprises, Inc., and is headquartered in Atlanta. A leading media company, Cox Enterprises includes Cox Newspapers, Inc. (newspapers, direct mail marketing, book publishing book publishing. The term publishing means, in the broadest sense, making something publicly known. Usually it refers to the issuing of printed materials, such as books, magazines, periodicals, and the like. ), Cox Broadcasting, Inc. (TV, spot sales, television production, research, publicly-traded Cox Radio Cox Radio NYSE: CXR is a publicly traded company that holds a number of radio stations. Private company Cox Broadcasting, Inc., a subsidiary of Cox Enterprises owns all of the company's super-voting Class B common stock, and thus controls the company. , Inc.) and publicly traded Cox Communications Cox Communications is a privately owned subsidiary of Cox Enterprises providing digital cable television and telecommunications services in the United States. It is the third-largest[2] cable television provider in the United States, serving more than 6. , Inc. (cable distribution, programming, broadband communications) in addition to Cox Interactive Media. The company is also the world's largest operator of automobile auctions through Manheim Auctions Manheim Automotive Services is the largest and highest volume wholesale automobile auction company in the world. As a subsidiary of Cox Enterprises, Inc., Manheim provides services including financing, title work, transportation, recovery, auto body repair, dealership management , providing financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , government auctions, online services and price guides. About Tickets.com Tickets.com (www.tickets.com) is an online source for entertainment tickets, event information and related products and services. The company sells tickets through retail outlets, call centers, interactive voice response systems and the Internet. At www.tickets.com, consumers can obtain information on thousands of events and entertainment organizations, purchase tickets and shop for related products and services. Tickets.com's automated ticketing solutions are used by over 3,800 entertainment organizations such as leading performing arts centers, professional sports The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. organizations and various stadiums and arenas in the US, Europe, Australia and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . CIMedia City Sites include: Atlanta, Ga.; Austin, Texas; Charlotte, N.C.; Dayton, Ohio; Las Vegas, Nev.; Los Angeles, Calif.; Miami, Fla.; New Orleans, La.; Omaha, Neb.; Orange County, Calif.; Orlando, Fla.; Phoenix, Ariz.; Pittsburgh, Pa.; Providence, R.I.; San Diego, Calif.; San Francisco, Calif.; Seattle, Wash.; Tampa, Fla.; Virginia Beach, Va.; West Palm Beach, Fla. (a) subject to availability |
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