Costco and HalfPriceTickets.com in Some Sort of Partnership

I don’t know who writes these press releases, but sometimes they are so hard to understand. It looks like HalfPriceTickets.com and Costco are launching some sort of Web site or Web sites to sell unsold tickets to events. Something like that. Read for yourself and see if you can make sense out it:

Tix Corporation (NasdaqCM:TIXCNews), a leading integrated entertainment company including discount entertainment ticketing services, announced today that it has entered into an agreement with Costco Wholesale Corporation (Costco) (NasdaqGS:COSTNews) to launch a new co-branded national discount ticketing website exclusively for Costco Members through its HalfPriceTickets.com subsidiary.

Tix Corporation’s subsidiary, Tix4Tonight, introduced the concept of selling last-minute discount tickets for Las Vegas’ great shows, attractions, concerts, sporting events and even dining from its six prime ticket booth locations. Tix4Tonight is currently on track to sell in excess of one million tickets in 2008. This new agreement with Costco will capitalize on Tix’s expertise and success in the discount ticket arena by expanding its services throughout the United States to offer discount tickets (up to 50% off face value), for concerts, live theater and sporting events via its new online co-branded website of HalfPriceTickets.com and CostcoEvents.com. The Company estimates that there are as many as 100 million unsold tickets in the United States annually.

The new Costco / HalfPricedTickets.com co-branded discount website will be the third ticketing platform added to the current Costco Event Ticket Services program, offered to over 47 million U.S. Costco members. The service is anticipated to launch late this year or early 2009.

Make sense?

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