ZURICH (CelebrityAccess MediaWire) — German ticketing giant CTS Eventim is moving into the Swiss market through a new joint venture with Zurich-based media company Ringier.
The new venture, CH Eventim AG will seek, unsurprisingly, to become a major player in the Swiss ticketing market, leveraging Eventim's experience and technology with Ringier's media resources and existing infrastructure, including Swiss concert promoter Good News. The two companies will each hold a 50% stake in the new company and will be open to marketing events by third parties.
Eventim has been following a strategy of aggressive growth in the European market with recent major acquisitions in both Italy and Finland and deals with major promoters such as AEG and Live Nation.
"The CH Eventim AG benefits from the collaboration between two market leaders. So we create the best conditions for a Swiss success story." Klaus-Peter Schulenberg, CEO of CTS said in a statement.
CTS Eventim and Ringier expect that the new venture will be operational by February, 2010. – CelebrityAccess Staff Writers