Ticketmaster parent company InterActiveCorp has acquired a considerable stake in Front Line Management, one of the premiere artist-representation outfits.
In an effort to expand their influence in the live music industry, IAC bought out private-equity firms Thomas H. Lee Co. and Bain Capital Partners LLC, each initial Front Line funders. They beat out Warner Music Group Corp. and Live Nation Inc. (presently the world’s largest concert promoter) in the acquisition.
This marks the next step in a series of increasing profits in the live-music arena for the country following a 17% increase in ticket sales last quarter from signing strong performers like The Police among others.
IAC execs could not be reached for comment.