Ticketmaster Online-CitySearch, the local guide, ticket seller and auction site controlled by USA Networks Inc, has signed a deal to purchase online dating web site Match.com and also says it will reorganize its business into two distinct groups. It is buying the online dating service from its current owner Cendant Corp for about $50m in stock. Cendant expects to realize a gain of about $25m from the sale.
Ticketmaster hopes to be able to provide the ultimate one-stop shop for a single’s night out. Users can find something to do in a city, buy a ticket to it and now find somebody to go with, all from the same web site. The city guides & central support group will comprise the city guides, auctions and Match.com business units, while the ticketing and transactions group will contain the ticketing, e-commerce and scheduling/reservations business units. City guides and central support will be run by David Hagan and the president of the ticketing group will be John Pleasants.
Ticketmaster Online-CitySearch was an integral part of the failed attempt by USA Networks to take over web portal Lycos Inc, which was finally called off last week (05/13/99). But Ticketmaster and Lycos signed a cross-promotion deal as a consolation.
