Ticket Company Merger Costs Exton Area 15 Jobs
The merger of two Comcast-Spectacor ticket companies has cost Exton-based New Era Tickets 15 jobs, including the positions of long-time CEO Fred Maglione and Vice President of Finance Daniel Durso, according to a Philadelphia Business Journal report.
The firm’s clients will transfer to Comcast-Spectacor’s Paciolan brand, which will continue to operate in Irvine, Calif., with its 325 employees.
The consolidation was a result of a business decision that aligns with the strategy of new Comcast-Spectacor President David Scott, the Journal noted. The Philly sports and entertainment firm owned a stake in both ticket operations since 2003 but didn’t acquire Paciolan outright until a 2010 deal with Ticketmaster.
Read more about the history behind the development here.
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