Ticketmaster CFO says deleveraging is top priority for excess cash

By Jennifer Lanning Drey

Portland, Ore., Nov. 20 - Ticketmaster Entertainment, Inc.'s first priority for excess cash is to use it to deleverage the company, Brian Regan, chief financial officer of Ticketmaster, said Friday during a presentation at the Citi Small/Mid Cap Conference in New York.

"We paid down just under $30 million of debt in the third quarter, and we'll continue to do so on a fairly regular basis, so that's our first priority," Regan said.

Beyond deleveraging, the company continues to consider making investments in its development and international capabilities, he said.

Internationally, Ticketmaster is focused on integrating its locations while looking for other opportunities.

When asked about how he feels regarding Live Nation, Inc.'s balance sheet, Regan said, "They use their cash very wisely."

However, the CFO said he was unable to comment any further on Ticketmaster's proposed merger with Live Nation, a Beverly Hills, Calif., concert promoter, or the status of the regulatory review underway in the United States, Canada and United Kingdom.

Ticketmaster is a West Hollywood, Calif.-based live entertainment ticketing and marketing company.

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