LOS ANGELES (CelebrityAccess MediaWire) — Tix Corp.has acquired live entertainment producer NewSpace Entertainment for a cold $1 million in cash and 571,428 shares of restricted stock. NewSpace promotes a wide range of live entertainment, including Broadway subscription series in several US markets and on-going presenting relationships for theatricals, concerts and lectures across the US and Canada featuring artists from David Sedaris and The Mythbusters to Mamma Mia and Lion King.
NewSpace along with its founding partners John Ballard, Steve Boulay, and Bruce Granath will merge its operations into Tix Productions, a newly formed subsidiary of Tix Corporation and will assume executive positions within the Company. Tix Productions led by Lee Marshall and Joe Marsh as Co-Chief Executive Officers will produce and promote live entertainment throughout the United States and Canada.
Tix Corp sells discounted event tickets for Las Vegas shows along with discounted reservations for other recreational outlets such as golf courses. They also have a branded merch division tied into touring museum exhibit memorabilia, such as the King Tutankhamen and Real Pirates tours.
Steve Boulay said, "There are a tremendous number of great opportunities for a nimble, well-managed organization to thrive in the entertainment sector and we look forward to making our mark there with our new colleagues at Tix."
Mitch Francis, President and CEO of Tix Corporation said, "The acquisition of NewSpace is another milestone in our organization's expansion into the production and promotion of live entertainment. We believe this new division will yield significant benefits to Tix, not just in terms of increased revenue, but also increased opportunities to enhance our other divisions of ticketing and branded merchandising." – CelebrityAccess Staff Writers
