RealTime IT News

Tickets.com: Trying to Forge Ahead Despite Its Woes

A day after it received a stock delisting warning, Costa Mesa, Calif.-based Tickets.com tried to shore up confidence by announcing a multi-year agreement with the Milwaukee Brewers to include retail distribution through Tickets.com's retail outlets and call centers.

The Nasdaq warning said the B2B ticketing solutions provider has failed to comply with the minimum bid price requirement for continued listing on the Nasdaq National Market System. The company's stock has traded below $1 since last November.

Shares were plunging today, losing 15 cents or about 29 percent of their value in the early going, dropping to 37 cents a share.

Tickets.com said it has been granted a hearing before a Nasdaq Qualifications Panel to consider the company's continued listing. The hearing is scheduled for May 10. The stock will continue to be traded on the Nasdaq National Market pending a final decision.

The Brewers currently use Tickets.com's Prologue ticketing software to conduct their off-line ticketing operations in-house, and Tickets.com provides online ticketing for the Brewers through the company's agreement with MLB Advanced Media, the interactive media company of Major League Baseball.

In addition to baseball games, Tickets.com now will provide ticketing services for other events at Milwaukee's new stadium, Miller Par, including concerts, non-baseball sporting events and activities related to the Wisconsin State Fair. Financial arrangements were not disclosed.

Founded in 1996, Tickets.com has never actually made any money since going public in 1998.