Just the ticket for Bono
FRESH from banking €300m out of U2's landmark deal with concert promoters Live Nation, the Bono-backed private equity group, Elevation Partners, has tried to buy a stake in rival Ticketmaster.
However talks "have cooled", although the proposed deal isn't completely off, according to reports. Ticketmaster is owned by Barry Diller's $6bn valued InterActiveCorp. The company has faced some shareholder opposition over asset sales.
Bono is a director of Silicon Valley-based Elevation Partners, which owns stakes in Forbes Magazine, handset maker Palm, online estate agent Move.com and DVD dubbing firm SDI Media.