New Nine Live owners look for ongoing expansion

With Affinity Equity Partners acquiring the Nine Live events and ticketing business, the Asian-based private equity firm is reportedly looking to make other acquisitions in Australia, New Zealand and Asia.

Nine Entertainment shareholders are set to receive a dividend boost following the sale of Nine Live, which includes Ticketek, for $640 million.

Commenting on the sale of Nine Live, Nine Entertainment Chief Executive David Gyngell stated “the sale came to us as an unsolicited offer attests to the respect for Nine Live in the wider business community" and showed how "from its beginnings as single ticketing business, (that) Ticketek (has grown) into a very successful major touring and events business.

"We will all continue to work closely together into the future while both businesses have capital investments that will allow us to grow and take advantage of new opportunities as they present themselves."

Nine Live Chief Executive Geoff Jones, who is being retained by Affinity Equity Partners along with other members of the management team, said the sale was a "win-win" for all parties.

Jones explained "I am also pleased that our strong, mutually beneficial relationship with the Nine Entertainment Co. will be maintained across the business moving forward when the sale is completed.

"We are very fortunate to have long-standing partnerships with a valued stable of loyal clients across our various businesses and I look forward to continuing to work with all of our key partners and stakeholders under this new ownership structure."

Allphones Arena is Nine Live asset, managed by AEGOgden.

Affinity Equity Partners Australia and New Zealand Vice President Brett Sutton described the sale as entering a partnership with Nine.

In a statement, Sutton added "Affinity is excited to invest in Australia's leading live events and ticketing company.

 "Nine Live is an excellent company with strong management and has the capacity for significant growth throughout the region.

"Affinity looks forward to partnering with Nine Live to explore opportunities for expansion."

Nine Live recently entered a live events partnership with New Zealand radio and television company MediaWorks.

14th April 2015 - MEDIAWORKS AND CHANNEL NINE TO LAUNCH NEW ENTERTAINMENT PARTNERSHIP

19th January 2015 - TICKETEK INTRODUCES WORLD FIRST DYNAMIC MOBILE TICKET AT AUSTRALIAN OPEN