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Tickets.com, Advantix to Form Online Firm

By Karen Kaplan
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Marina del Rey-based Tickets.com and Advantix of Newport Beach said they will merge to form an online company for selling entertainment, sports and travel tickets. The two privately held companies did not disclose the value of their all-stock deal. The new company, to be called Tickets.com, will compete with industry leader Ticketmaster Online-CitySearch, which is based in Pasadena. Analysts estimate that online ticket sales could total $10 billion by 2001. Advantix President and Chief Executive W. Thomas Gimple will retain those roles in the new company, and Tickets.com President and Chief Executive James Caccavo will become president of Internet operations and join the board of directors. A spokeswoman said there may be a few layoffs to eliminate duplicate management roles. Both companies will maintain their current offices. On Nasdaq, Ticketmaster Online-CitySearch shares rose $2.38 to close at $58.81.

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Karen Kaplan

Karen Kaplan covers science and medical research for the Los Angeles Times. She has been a member of the science team since 2005, including 13 years as an editor. Her first decade at The Times was spent covering technology in the Business section as both a reporter and editor. She grew up in San Diego and is a graduate of MIT and Columbia University.

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