Ticketcorner, Starticket merge to stay on the market

Ticketcorner and Starticket unite to fight together against the big international competition. The merger agreements were signed in Zurich today by the directions of Ticketcorner Holding and Tamedia, specify the transaction partners in a statement.

Ticketcorner Holding is currently owned in equal shares to 50%, by the German company CTS Eventime, number one European online ticketing, and the Ringier publishing group. Starticket competitor belongs to Tamedia.

It is not yet decided the name of the new entity, said the spokesman of Tamedia Christoph Zimmer. It will be held 75% by CTS groups Eventime and Ringier and the remaining 25% from Tamedia.

The transaction, which is expected to close during the first half of 2017, must wait for the green light by competition authorities. The parties have agreed not to disclose details of the transaction.

"Before planning how to move forward, we will wait to know the decision of the Competition Commission (COMCO)," he added Zimmer.

The deal has been criticized by the director of the Foundation for Consumer Protection (FPC), Sara Stalder; talking on the private radio microphones Radio 1, she said to hope that the Competition Commission issues a favorable decision for consumers.