eBay Wins U.S. Antitrust Approval for StubHub Acquisition
U.S. antitrust authorities said today they approved plans by online auctioneer eBay to buy sports ticket reseller StubHub for about $310 million in cash.
Officials have completed their investigation of the deal without taking any action, the Federal Trade Commission said in a notice.
StubHub, which was founded in 2000, offers a secure way to connect buyers and sellers of tickets, with a money-back guarantee to insure that buyers are not cheated out of tickets. StubHub had more than $400 million in gross ticket sales last year.
EBay has competed with StubHub. Other major rivals include IAC/InterActiveCorp's Ticketmaster, Craigslist, and stadium scalpers.