Ticketek-owner TEG is in talks with its American private equity backer and banks about an immediate injection of funds to be able to bid for upcoming tours and venue contracts and get its business back on track.
Weeks after the departure of chief executive Brad Banducci, and days after new chief Cameron Hoy announced dozens of job cuts, TEG is seeking to raise a few hundred million dollars to replenish near-term liquidity and its financial health, according to four sources involved in the confidential talks but unable to speak publicly. It would come most likely via a combination of fresh equity and debt.
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