CBS Corporation and TicketRESERVE Strike Strategic Partnership
CBS Invests in Popular Online Marketplace for Premier Live Event Tickets
NEW YORK and CHICAGO, June 6 /PRNewswire-FirstCall/ -- CBS Corporation
(NYSE: CBS.A; CBS) today announced that it has invested in TicketRESERVE,
http://www.ticketreserve.com, a privately-held online marketplace that
gives consumers the ability to buy tickets to premier live events at face
value well in advance of the events themselves.
TicketRESERVE operates a proprietary electronic marketplace for
hard-to- get tickets as follows: Fans purchase reservations, known as
FanFORWARDs, for a specific team, artist, or event, guaranteeing them the
right to buy face- value tickets. FanFORWARDs can then be bought and sold
through a free-market trading system, or used to buy a face-value ticket
should the selected event come to pass. For example, USC fans who want to
attend this year's BCS College Football National Championship game if USC
qualifies can buy FanFORWARDs that guarantee them the ability to buy
tickets to that potential event.
TicketRESERVE has a growing list of partnerships with sports and
entertainment properties allowing it to sell face value tickets through its
FanFORWARD initiative.
"CBS's sports programming - both on air and online - evokes passion in
millions of fans across the country," said Joe Ianniello, Senior Vice
President and Chief Development Officer of CBS Corporation. "TicketRESERVE
allows us to connect with our audience in yet another way, while offering
leagues the potential of an exciting new revenue stream. And going forward,
we believe that TicketRESERVE can integrate with our non-sports programming
as well. It also represents another strategic investment to extend our
traditional businesses into the Interactive landscape."
CBS SportsLine, CBS Sports, CSTV, CBS Radio, and CBS Interactive will
work closely with TicketRESERVE to expand CBS's presence in live event
properties. At the same time, the Company will provide TicketRESERVE with
marketing, broadcasting, and online resources to grow its business. In
addition, Ianniello has joined the Board of Directors of TicketRESERVE.
"We are pleased to be working with Joe and the entire team at CBS,"
said Rick Harmon, founder, Chairman and CEO of TicketRESERVE. "With the
resources of CBS, and the incredible multimedia organization that they are,
we are confident that this transaction will provide TicketRESERVE the means
to continue to extend our reach and engage consumers with unprecedented
access to the most highly coveted live sports and entertainment events."
About TicketRESERVE
TicketRESERVE (
http://www.ticketreserve.com), founded in 2001, is
dedicated to providing consumers with access to the biggest and most
prestigious live events. Through the purchase of FanFORWARDs, loyal fans
can guarantee themselves a seat at their coveted live event and, if
necessary or desired, trade the contract 24/7 real-time on the
TicketRESERVE website marketplace. TicketRESERVE pioneered the Pre-Primary
or Forward market to give live event fans the opportunity to experience the
excitement of watching their favorite events, in-person. TicketRESERVE is a
proven and economical alternative to current primary and secondary
ticketing operations. The company is based in Chicago.
About CBS Corporation
CBS Corporation (NYSE: CBS.A; CBS) is a mass media company with
constituent parts that reach back to the beginnings of the broadcast
industry, as well as newer businesses that operate on the leading edge of
the media industry. The Company, through its many and varied operations,
combines broad reach with well-positioned local businesses, all of which
provide it with an extensive distribution network by which it serves
audiences and advertisers in all 50 states and key international markets.
It has operations in virtually every field of media and entertainment,
including broadcast television (CBS and The CW - a joint venture between
CBS Corporation and Warner Bros. Entertainment), cable television (Showtime
and CSTV Networks), local television (CBS Television Stations), television
production and syndication (CBS Paramount Network Television and CBS
Television Distribution), radio (CBS Radio), advertising on out-of-home
media (CBS Outdoor), publishing (Simon & Schuster), interactive media (CBS
Interactive), music (CBS records), licensing and merchandising (CBS
Consumer Products) and video / DVD (CBS Home Entertainment). For more
information, log on to
http://www.cbscorporation.com.
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