Microsoft has sold its Sidewalk community property to one time arch rival Ticketmaster Online-Citysearch, in a continuing move for the software giant away from content to ecommerce transactions and services.
Under terms of the deal, worth approximately $240 million in stock, Microsoft will own nine per cent of Ticketmaster Online-Citysearch with the option of expanding its interest to 13 per cent. Sidewalk guides will eventually be merged with Citysearch sites and the Sidewalk name will be killed off.
Both companies launched their city guides to the US in 1997. Microsoft and TMCS claim the deal will now let them focus on their core strategies.
Citysearch will expand distribution of its city guide services by becoming the exclusive provider of arts and entertainment city guides and the primary provider of online ticketing and personals on the Microsoft MSN Network, and Citysearch will also gain distribution on WebTV.
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