August 25, 1998
CitySearch, Ticketmaster Join Forces
City guide producer CitySearch (www.citysearch.com), Pasadena, CA, will merge with Ticketmaster Online (www.ticketmaster.com) and form a new company called Ticketmaster Online-CitySearch, which will provide local content on the Internet and combine up-to-the-minute information services with an electronic commerce business.
CitySearch was planning an initial public offering of stock until it received the merger proposal and decided to postpone it in favor of the merger. The new company will file for an IPO after the merger. Under the agreement, CitySearch shareholders will remain shareholders of the new entity.