Australia's leading ticket and live entertainment company, TEG, is reportedly set to go up for sale.
According to Australian Financial Review's Street Talk, US finance group Goldman Sachs has been appointed to run a trade sale process for the Sydney-headquartered company.
It is reported that an auction will be launched by Christmas and is expected to pull in well over $1 billion.
It's tipped that a number of globally-known companies could throw their hat in the ring for TEG's acquisition, including eBay, Telstra, Amazon and European ticketing company, Eventim.
After joining forces with fellow entertainment giants Dainty Group in 2016, as well as Division Agency this past July, TEG has doubled in size.
TEG currently owns Ticketek Australia and New Zealand, TEG Live, Softix, Eventopia and one of the country's most popular live venue, Qudos Bank Arena in Sydney.
It is also reported that potential new owners will be attracted to Ticketek's database, which currently boasts 12 million consumers and annual ticket sales of 23 million to over 20,000 events each year.
The Music has contacted TEG for comment.
Comments