Today, Viagogo has announced a $4.05 billion deal to buy StubHub, which it claims will be ‘a win-win for fans — more choice and better pricing,’ according to a statement released on the company’s Twitter account.
StubHub’s current owner, eBay, is selling the company back to its original co-founder, Eric Baker, who is also the founder and CEO of Viagogo. The sale is expected to close by the first quarter of 2020, but is still subject to regulatory approval.
Katie O’Leary, FEAT’s Campaign Lead said:
“It’s alarming to think of Viagogo potentially gaining an even greater stronghold in the secondary ticketing market given it’s been the subject of various legal actions across Europe and banned from advertising on Google globally.
“Viagogo claim this will create a ‘win-win for fans’, but further consolidation in the secondary ticketing market would most likely restrict competition, and further negatively impact fans.
“We hope that regulators will have consumers’ best interests at heart when considering this deal, and consider not only the question of Viagogo’s increased dominance but also whether they can be considered a fit and proper owner.”