Tuesday, June 24, 2008

"and that will be a $750million booking fee, please"

Ticketmaster has been spun off - or, perhaps, thrown out of - its parent company. It'll go independent in 2009, carrying three quarters of a billion dollars in debt.

It's not, perhaps, the best time to be trying to set up a debt-laden company that doesn't really do anything much beyond act as a middleman. Apparently they've got lots of ideas about how they can pay off the debt and thrive - we suspect the business plan includes the words "bigger booking fees".